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Transportation

Baltic index slips on weaker capesizes rates

The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, slipped on Friday as rates for the capesize vessel segment weakened.

The Baltic dry index fell 9 points, or 0.8%, to 1,115, its lowest since June 16.

The index lost 6% this week, its sixth consecutive weekly fall.

The capesize index dropped 43 points, or 2.8%, to 1,507, its lowest since June 11; the index was set for a sixth straight weekly fall at about 10%.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dipped $356 to $12,498.

The panamax index rose 21 points, or 1.8%, to 1,198.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $185 to $10,780.

The supramax index remained unchanged at 884.
Source: Reuters (Reporting by Asha Sistla in Bengaluru; Editing by Vinay Dwivedi)

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