U.S. markets closed
  • S&P 500

    4,173.85
    +61.35 (+1.49%)
     
  • Dow 30

    34,382.13
    +360.68 (+1.06%)
     
  • Nasdaq

    13,429.98
    +304.99 (+2.32%)
     
  • Russell 2000

    2,224.63
    +53.68 (+2.47%)
     
  • Crude Oil

    65.51
    +1.69 (+2.65%)
     
  • Gold

    1,844.00
    +20.00 (+1.10%)
     
  • Silver

    27.50
    +0.46 (+1.69%)
     
  • EUR/USD

    1.2146
    +0.0062 (+0.51%)
     
  • 10-Yr Bond

    1.6350
    -0.0330 (-1.98%)
     
  • GBP/USD

    1.4102
    +0.0050 (+0.36%)
     
  • USD/JPY

    109.3470
    -0.0870 (-0.08%)
     
  • BTC-USD

    48,973.61
    +83.86 (+0.17%)
     
  • CMC Crypto 200

    1,398.33
    +39.77 (+2.93%)
     
  • FTSE 100

    7,043.61
    +80.28 (+1.15%)
     
  • Nikkei 225

    28,084.47
    +636.46 (+2.32%)
     

Baltic index falls as lower rates for capesize, panamax weigh

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

July 15 (Reuters) - The Baltic Exchange's main sea freight index fell on Wednesday, weighed by capesize rates hitting their lowest level in nearly a month and lower earnings at the panamax segment.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 46 points, or about 2.6%, to 1,696.

* The Baltic capesize index dropped 141 points, or 4.6%, to 2,941, touching its lowest level since June 17.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, was down by $1,175 at $24,387.

* Rising iron ore demand from China as the world's second-largest economy opening up for business has helped the capesize index gain 51% so far this year.

* "Taking into consideration that the Capesize segment has witnessed exceedingly firming activity since the beginning of the summer season, it was a matter of time that charterers reaction will add pressure on the market," ship broker Intermodal said in a weekly research note on Tuesday.

* The panamax index was down 18 points, or 1%, at 1,579.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $164 to $14,211.

* However, the supramax index rose 15 points, or 1.7%, to 890. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Amy Caren Daniel)