Baltic index down on lower rates across vessel segments

Date: Jan 31, 2018
The Baltic Exchange’s main sea freight index fell for the second straight session on Tuesday, weighed down by lower rates across vessel categories.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was down 23 points, or 1.89 percent, at 1,191 points.

The capesize index snapped its five-day winning streak and shed 36 points, or 2.02 percent, to 1,748 points.

“Capesize spot earnings have come under some pressure in part due to a lack of fresh cargoes in the Atlantic,” said analysts at shipbroker Clarksons Platou Securities.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $399 to $13,666.

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