Baltic Dry Index Dips Below 600

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June 16, 2016

ReutersJune 16 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped Thursday as demand for capesize vessels fell.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 6 points, or 0.99 percent, at 598 points.

The capesize index fell 24 points, or 2.4 percent, to 976 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $232 at $6,938.

The panamax index was flat at 545 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $4 to $4,352.

Among smaller vessels, the supramax index rose 2 points to 554 points, while the handysize index fell 1 point to 314 points. (Reporting by Harshith Aranya in Bengaluru; Editing by Martina D’Couto)

(c) Copyright Thomson Reuters 2016.

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