Baltic Index Falls on Capesize Rates

by Shreyansi Singh December 16, 2019

The Baltic Exchange's main sea freight index fell for a ninth-straight session on Monday, as the capesize index hit its lowest level in nearly six months.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 40 points, or 3%, to 1,315, its lowest since Nov. 22.

* The capesize index slid 121 points, or 4.9%, to 2,334, its lowest since June 21.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, fell $942 to $17,060.

* The panamax index was down 2 points at 1,465, snapping a thirteen session-long gaining streak.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $18 to $11,731.

* The supramax index fell 8 points to 815.

(Reporting by Shreyansi Singh in Bengaluru; Editing by Amy Caren Daniel)