Baltic Index slumps as capesize sees worst dip in six months

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 14 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, fell to a near three-year low on Tuesday on capesize's worst single-day drop in nearly six months.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 53 points, or 8.6%, at 563, lowest since early June 2020.
* The capesize index lost 152 points, or about 28.5%, to 382.
* Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $1265 to $3,167.
* The panamax index fell 15 points, or about 1.7% to 848.
* Average daily earnings for panamaxes , which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were down $133 at $7,631.
* The supramax index snapped its seven-day-long losing streak, edging up 2 points at 627. (Reporting by Harshit Verma in Bengaluru)

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