On November 19, the Baltic Exchange’s main sea freight index, tracking rates for ships ferrying dry bulk commodities, edged down, hurt by lower demand across vessel segments.
Key observations
- The overall index, which factors in rates for Capesize, Panamax and Supramax shipping vessels, snapped two straight sessions of gains and lost 8 points, or 0.8 percent, to 1,023 points.
- The Capesize index dipped 0.66 percent, or 7 points, to 1,050 points.
- Average daily earnings for Capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $82 to $8,722.
- The Panamax index fell 16 points, or 1.1 percent, to 1,437 points, its lowest since August 15.
- Average daily earnings for Panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $125 to $11,497.
- The supramax index eased 5 points to 964 points.
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Source: Reuters
