Baltic Dry Index Continues to Slide
Dec 7 (Reuters) – The Baltic Exchange’s predominant sea freight index monitoring charges for ships carrying dry bulk commodities fell on Monday on sliding demand throughout almost all vessel segments.
The total index, which gauges the price of delivery cargoes together with iron ore, cement, grain, coal and fertiliser, fell 12 factors, or 2.13 %, to 551 factors.
The dry cargo delivery business has been damage this 12 months by the worldwide commodities meltdown and a wave of ship deliveries, and extra vessels are anticipated to change into operational within the coming months.
The Baltic index is seen by traders as an indicator of world industrial exercise.
The capesize index fell 38 factors, or 4.27 %, to 852 factors as common each day earnings for capesize vessels fell $341 to $7,522. Capesizes sometimes transport 150,000-tonne cargoes akin to iron ore and coal.
The panamax index, for ships that often carry coal or grain cargoes of about 60,000 to 70,000 tonnes, dropped seven factors, or 1.62 %, to 426 factors. Average each day earnings for panamaxes fell by $54 to $3,404.
Among smaller vessels, the handysize index remained unchanged at 286 factors, and the supramax index fell 4 factors to 465 factors. (Reporting by Nithin Prasad in Bengaluru; enhancing by Jason Neely)
(c) Copyright Thomson Reuters 2015.
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