Baltic index ticks up on firm capesize, supramax demand

Kitco Media
By Anonymous
Published:
Updated:
Reuters
 April 24 (Reuters) - The Baltic Exchange's main sea
freight index  , tracking rates for ships carrying dry
bulk commodities, edged up on Monday, aided my higher rates for
capesize and supramax vessel segments.
 
 * The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, gained 13 points, ord.9%, to 1,517 - its highest in nearly two weeks. 
 * The capesize index  was up 31 points, or 1.6%, ate,993.
 * Average daily earnings for capesizes  , which
typically transport 150,000-tonne cargoes carrying commodities
such as iron ore and coal, increased $256 to $16,526.
 * Iron ore futures slumped to their lowest in more than four
months as weak steel demand in China prompted a production
slowdown, while latest reports from major miners signalled ample
supply of the steelmaking ingredient.  
 * Among smaller vessels, the supramax index  climbed
a near one-month peak, adding 11 points to 1,212.
 * The panamax index  slipped 5 points, or 0.3%, toe,687. 
 * Average daily earnings for panamaxes  , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, lost $39 to $15,186.

 

 (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by
Shinjini Ganguli)
 ((Ashitha.Shivaprasad@thomsonreuters.com;))
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