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Baltic Index Falls on Lower Capesize, Panamax Rates

The Baltic Exchanges dry bulk sea freight index. which measures shipping rates for vessels transporting dry bulk commodities, edged lower on Tuesday, pressured by lower rates across the capesize and panamax segments.

The main index, which monitors rates for capesize, panamax and supramax shipping vessels, lost 15 points to 1,4o6.

The capesize index lost 42 points to 2,037.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $344 to $16,897.

Dalian iron ore futures held steady on Tuesday. as investors weighed hopes of easing Sino-U/S. trade tensions against downbeat Chinese economic data.

Meanwhile, the panamax index fell eight points to 1,360.

Average daily earnings for panamax vessels, which usually carry 60,000 - 70,000 tons of coal or grain, was down $72 to $12,238.

Among smaller vessels. the supramax index added two points to 957.

Source: Reusters.

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