September 12, 2019 / 1:12 PM / 3 days ago

Baltic index falls on sluggish capesize demand

Sept 12 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, declined on Thursday for a sixth consecutive session due to lower capesize rates.

* The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 35 points, or 1.5%, to 2,331.

* The capesize index dropped 114 points, or 2.4%, to 4,612.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $749 to $34,434.

* "With less activity, (capesize) levels have softened down 6% week to week with both the major iron ore routes West Australia to China and Brazil to China," shipbroker Fearnleys said in a note on Wednesday.

* The panamax index fell 15 points, or 0.7%, to 2,129.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $120 to $17,051.

* The supramax index inched down six points to 1,305. (Reporting by Anjishnu Mondal in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below