* The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, lost 53 points, or 3.4%,
at 1,507 — its biggest dip in two weeks.
* The capesize index fell 130 points, or 6.4%, to
1,911.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes carrying commodities
such as iron ore and coal, decreased $1,079 to $15,849.
* Iron ore futures wobbled, initially extending losses on
concerns about weak steel demand in China, before reversing
direction as a tropical storm headed towards Port Hedland in top
supplier Australia.
* Among smaller vessels, the supramax index lost 30
points, or 2.6%, at 1,131.
* The panamax index added 1 point at 1,852, its
highest level since Oct. 27
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, increased $8 to $16,669.
(Reporting by Ananya Bajpai in Bengaluru; Editing by Shilpi
Majumdar)
April 11 (Reuters) - The Baltic Exchange's main sea
freight index , tracking rates for ships carrying dry
bulk commodities, snapped a four-session winning streak on
Tuesday, pressured by lower rates for capesize and supramax
vessel segments.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.