Baltic index falls on lower vessel demand

Kitco Media
By Reuters
Published:
Updated:
Reuters
May 2 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, fell on Tuesday, pressured by lower shipping rates across all vessel segments.


* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 24 points, or 1.5%, to 1,552 - its biggest dip in two weeks.
* The capesize index lost 33 points, or 1.4%, to 2,268.
* Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, fell by $271 to $18,809.
* The panamax index fell 23 points, or about 1.5% to 1,563 - its lowest since March 28.
* Average daily earnings for panamaxes , which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined by $208 to $14,066.
* Among smaller vessels, the supramax index lost 21 points to 1,144. (Reporting by Ananya Bajpai in Bengaluru; Editing by Sonia Cheema)

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