Baltic Index Edges Lower as Capesize Activity Decreases
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, slipped on Thursday primarily due to lower demand for capesize vessels.
The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell one point to 599 points.
The capesize index too was down one point to 543 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $52 to $4,575.
Meanwhile, the panamax index was up 11 points, or 1.64 percent, at 680 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, rose by $84 to $5,418.
The handysize index was down four points 351 points, while the supramax index was up one point to 621 points.
(Reporting by Vijaykumar Vedala in Bengaluru. Editing by Jane Merriman)
