Supply Chain Council of European Union |

Baltic index falls as capesize loses momentum

Oct 7 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, on Wednesday snapped a six-day winning streak as capesize vessel rates fell.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 53 points, or 2.5%, at 2,044 points. The index hit its highest in more than a year, at 2,097 points, on Tuesday.

* The capesize index lost 173 points, or 4.1%, at 4,035 points, its first decline in seven sessions.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was down $1,431 to $33,465.

* The panamax index was up 16 points, or 1.1%, at 1,410 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $145 to $12,694.

* Among smaller vessels, the supramax index was unchanged at 985 points, while the handysize index fell one point to 593 points. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Ramakrishnan M.)

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