Supply Chain Council of European Union |

Baltic index drops for 5th consecutive session

The Baltic Exchange’s main sea freight index fell for a fifth straight session on Tuesday, weighed down by softer demand for capesize vessels.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 23 points, or 1.5%, to 1,528 points.

* The capesize index fell 75 points, or 2.3%, to 3,167 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, dropped $793 to $22,652.

* The panamax index gained 36 points, or 2.6%, to 1,395 points, registering its tenth consecutive session of gains.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $284 to $11,178.

* The supramax index edged up one point to 838 points, its highest in over a month. (Reporting by Anjishnu Mondal in Bengaluru)

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