Baltic Dry Index Falls Further
Dec 11 (Reuters) – The Baltic Exchange’s foremost sea freight index monitoring charges for ships carrying dry bulk commodities fell on Friday reflecting low vessel demand throughout practically all vessel sizes.
The general index, which gauges the price of transport cargoes together with iron ore, cement, grain, coal and fertiliser, slipped 12 factors, or 2.25 %, to 522 factors.
The Baltic index is seen by buyers as an indicator of worldwide industrial exercise.
The capesize index fell 45 factors, or 5.46 %, to 779 factors as common each day earnings for capesize vessels fell $382 to $6,799. Capesizes usually transport 150,000-tonne cargoes corresponding to iron ore and coal.
The panamax index, for ships that normally carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose two factors, or 0.49 %, to 410 factors. Average each day earnings for panamaxes elevated $17 to $3,275.
Among smaller vessels, the handysize index dropped three factors to 282 factors, and the supramax index fell 4 factors to 451 factors. (Reporting by Harshith Aranya in Bengaluru; modifying by David Clarke)
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