Baltic index edges down on weaker capesize, panamax demand

The Baltic Exchange’s main sea freight index slipped on Monday, weighed down by weaker rates for capesize and panamax vessels.

The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, fell 28 points, or 0.9%, to 3,190.

The capesize index dipped 76 points, or 1.9%, to 3,953.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, declined $630 to $32,785.

The panamax index was down 39 points, or 1.1%, at 3,505.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $353 to $31,544.

The supramax index rose 23 points to 2,825, its highest level on record, according to Refinitiv Eikon data available since 2017.
Source: Reuters (Reporting by Brijesh Patel in Bengaluru; Editing by Devika Syamnath)

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