Coast Guard: Barge Groundings Increasing on Parched Lower Mississippi River
The U.S. Coast Guard says it is responding to an increasing number of barge groundings due to low water levels in the Lower Mississippi River. The Coast Guard on Tuesday...
May 10 (Reuters) – The Baltic Exchange’s main sea freight index rose to a near five-month high on Tuesday, as rates rose for all vessel segments.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 108 points, or 3.8%, to 2,939 points, the highest since Dec. 13.
* The capesize index .BACI rose 276 points, or 8.7%, to 3,461 points.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $2,291 to $28,703.
* Meanwhile, Chinese iron ore futures dropped to 7% on Tuesday to touch their lowest in nearly two months, fueled by concerns of higher interest rates and still-stagnant demand at home. IRONORE/
* The panamax index .BPNI gained 44 points, or 1.4%, to 3,277 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $398 to $29,491.
* The supramax index .BSIS was up 14 points at 2,746 points.
(Reporting by Roshan Abraham in Bengaluru)(c) Copyright Thomson Reuters 2022.
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