Baltic index marks worst week in 6 on lower capesize, supramax demand

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 31 (Reuters) - The Baltic exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, posted its biggest fall in six weeks, pressured by lower shipping rates for capesize and supramax segments.


* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 14 points, or 1.0%,
to its lowest since March 9 at 1,389. It was down 6.7% for the week - its biggest dip since the week ended Feb. 17.
* The main index was, however, up 128.4% for the month, to post its second monthly rise in a row.
* The capesize index lost 11 points to 1,665. It has fallen 11.5% for the week - its second consecutive weekly fall.
* The index gained 128.4% for the month.
* Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased $95 at $13,806.
* Among smaller vessels, the supramax index lost 39 points, or about 3.2%, to 1,198. It was down 10.1% for the week, snapping its six-week winning streak.
* It was up 8.4% points for the month.
* The panamax index was up 10 points 1,635. The index rose 4% for the week and 15.1% for the month.
* Average daily earnings for panamaxes , which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were up $96 at $14,718.
* Meanwhile, Dalian iron ore futures rose and stayed on track for a second straight quarterly gain on expectations of improved steel demand in China in the second quarter, with tight supply concerns adding support. (Reporting by Ananya Bajpai in Bengaluru; Editing by Maju Samuel)

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