The Baltic Exchange’s main sea freight index .BADI edged down on Wednesday, as panamax rates hit a three-week low, offsetting a rise in capesize vessel rates.
- The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged down by 2 points to 1,778.
- The capesize index .BACI added 28 points, or about 1%, to 2,801 – its highest level in more than a year.
- Average daily earnings for capesize vessels .BATCA , which typically transports 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $230 to $23,226.
- Benchmark Iron ore futures, listed on the Dalian Commodity Exchange and the Shanghai Futures Exchange, are closed for trading until Oct. 8 for public holidays in China.
- The panamax index .BPNI dropped to a three-week low, shedding 31 points or 1.9%, to 1,625.
- Average daily earnings for panamax vessels .BPWT , which usually carries about 60,000 to 70,000 tonnes of coal or grain cargo, decreased $278 to $14,627.
- Among smaller vessels, the supramax index .BSIS ticked down by 6 points to 1,244.
- Ukraine’s navy said on Wednesday that 12 more cargo vessels were ready to enter a fledgling Black Sea shipping corridor on their way to Ukrainian ports, as Kyiv steps up its push to defy a de facto Russian blockade on its vital sea exports.
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Source: Hot Copper
