April 21 (Reuters) – The Baltic Exchange’s main sea freight index marked its biggest percentage decline since mid-December on Friday as rates for larger vessels dipped due to limited activity.
The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 3.86 percent.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 48 points at 1,195, its weakest since March 22.
“Capesize and panamax vessels remain under pressure to close the week as both the Pacific and Atlantic markets remain rather quiet,” Clarksons Platou Securities analysts said in a note.
The capesize index lost 161 points, or 8.09 percent, to their lowest since March 10, at 1,830 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $1,291 to $13,369, also the lowest since March 10.
The panamax index was down 59 points, or 3.8 percent, at 1,494 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $466 to $11,982.
Among smaller vessels, the supramax index was down 4 points at 895 points, while the handysize index rose three points to 575 points. (Reporting by Swati Verma in Bengaluru; Editing by Shounak Dasgupta)
COPENHAGEN, April 15 (Reuters) – Shipping company Maersk has not made any deployment changes after a Portuguese-flagged container ship was seized by Iran in the Strait of Hormuz on Saturday, the Danish company said on Monday. “We find recent...
WASHINGTON, April 15 (Reuters) – The FBI has opened a federal criminal investigation into the deadly collapse of a Baltimore bridge last month when a ship crashed into one of its supports,...
By Daryna Krasnolutska (Bloomberg) Russia and Ukraine may have struggled to shift things significantly on the battlefield for more than 16 months, but a new phase of the war is moving...
22 hours ago
Total Views: 1700
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.