- Baltic index breaks its 20 day winning streak.
- The capesize index fell 60 points to -372 from -312.
- The panamax index fell index fell 1 point, or 0.1%, to 1,067 from 1,068,marking its first fall in 23 sessions.
- The supramax index climbed 16 points to 704 from 688.
The Baltic Exchange’s main sea freight index fell on Monday, breaking a 20-day gaining streak, reports Reuters.
Baltic Index rise and fall
The Baltic Exchange’s main sea freight index that rose on Friday last tweek to its highest in more than six weeks, fell on Monday, breaking the winning streak, as weak demand for capesize and panamax vessels offset strong rates for the supramax segment.
Index fluctuations
The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, increased by 18 points, or 3%, to 617, last week marking its highest since Jan. 22 and fell 1 point, or 0.2%, to 616 on Monday.
Capesize
- The capesize index fell 60 points to -372 from -312.
- Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes including iron ore and coal, rose by $157 to $2,385.
Panamax
- The panamax index fell 1 point, or 0.1%, to 1,067 from 1,068,marking its first fall in 23 sessions.
- Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes-70,000 tonnes, declined $3 to $9,607.
Supramax
- The supramax index climbed 16 points to 704 from 688.
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Source: Reuters
