- Shipping records lowest rates since April 2012
- Capesize loses 4.6 percent and records decrease in daily earnings
- Panamax index falls for fifth consecutive time and records decrease in daily earnings
- Supramax loses one point
On November 20, the Baltic Exchange’s main sea freight index, tracking rates for ships transporting dry bulk commodities fell because it was weighed down by weaker demand across vessel segments.
Key observations
- The overall index, which factors in rates for Capesize, Panamax and supramax shipping vessels, dipped for the second straight session, shedding 20 points, or 2 percent, to 1,003 points, its lowest since April 12.
- The Capesize index lost 4.6 percent, or 48 points, to 1,002 points.
- Average daily earnings for Capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $381 to $8,341.
- The Panamax index fell for the fifth consecutive day, easing 21 points, or 1.5 percent, to 1,416 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 $169 to $11,328.
- The supramax index lost 1 point to 963 points.
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Source: Reuters
