Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 4 points or 0.35 percent to 1,132 points. The index has fallen about 3 percent in the past week.
* The Baltic’s capesize index dropped 13 points or 0.58 percent to 2,243 points.
* Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were down $195 at $15,200. The index has fallen about 3 percent in the past week.
* The Baltic’s panamax index, however, rose 3 points or 0.33 percent to 907 points.
* Average daily earnings for panamaxes, which usually transport 60,000 to 70,000 tonne cargoes of coal or grain, were up $26 at $7,241.
(Reporting by Shrutee Sarkar in Bangalore; editing by Richa Naidu)
(c) 2013 Thomson Reuters
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