January 30, 2018 / 2:21 PM / in 6 months

Baltic index down on lower rates across vessel segments

Jan 30 (Reuters) - The Baltic Exchange’s main sea freight index fell for the second straight session on Tuesday, weighed down by lower rates across vessel categories.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was down 23 points, or 1.89 percent, at 1,191 points.

* The capesize index snapped its five-day winning streak and shed 36 points, or 2.02 percent, to 1,748 points.

* “Capesize spot earnings have come under some pressure in part due to a lack of fresh cargoes in the Atlantic,” said analysts at shipbroker Clarksons Platou Securities.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $399 to $13,666.

* The panamax index lost 35 points, or 2.36 percent- its biggest one-day percentage fall in four-weeks, to 1,450 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined $277 to $11,622.

* Among smaller vessels, the supramax index shed 6 points to 889 points, and the handysize index lost 7 points to 566 points. (Reporting by Sumita Layek in Bengaluru; Editing by Arun Koyyur)

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