Home NewsMaritime Baltic index ended 4-week earnings line with lower capesize rates falling

Baltic index ended 4-week earnings line with lower capesize rates falling

by Bunkerist
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The main sea freight freight index of the Baltic Exchange fell on Tuesday. Capesize vessels’ prices fell for the second straight session and were balanced by the gains of the ships in the panamax and supramax segments.

* The Baltic dry cargo index, which tracks the rates of dry cargo ships and is based on capesize, panamax and supramax ships, has fallen by 7 points.

* The Baltic capesize index reached its lowest level since June 22, losing 103 points to 3.968.

* The average daily earnings for capesizes, which usually carry 170,000 tons to 180,000 tons of cargo, including iron ore and coal, have dropped to $ 32,911.

However, after the virus-related deadlocks that deeply affected the global economy, the increase in demand for iron ore from China helped this year’s capesize index rise 109%.

* Panamax index increased by 81 points to 1.457.

* The average daily earnings for panamaxes, which usually carry about 60,000 tons to 70,000 tons of coal or grain, have risen to $ 13,113.

* Supramax index increased by 17 points to 725.

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