Update (Tues. January 12, 2016) – The Baltic Dry Index sank to a brand new report low for the sixth straight session on Tuesday introduced down by report low capesize.

The general index fell 3.13 p.c to 402 factors.

The capesize index shed 48 factors, or 15.29 p.c, sinking to its all-time low of 266 factors.

The panamax index fell 9 factors to 411 factors.

Jan 11 (Reuters) – The Baltic Exchange’s important sea freight index, which tracks charges for ships carrying industrial commodities, slid to a fifth consecutive report low on Monday on financial worries about China and a surplus of vessels.

The general index, gauging the price of delivery dry bulk cargoes together with iron ore, cement, grain, coal and fertilisers, fell 3.26 p.c to 415 factors.

The index has fallen by greater than 13 p.c in 2016.

A downturn in dry bulk delivery has worsened considerably in current months as demand for iron ore and coal has declined within the response to slower financial progress in China.

World shares fell to close 2-1/2 yr lows on Monday as a contemporary pounding for Chinese markets left Asia at a four-year low and hit oil and commodity markets.

The capesize index was down 29 factors at 314 factors, and neared its all time low of 311 factors in January final yr.

Average day by day earnings for capesizes, that sometimes transport 150,000-tonne cargoes reminiscent of iron ore and coal, fell $224 to $3,594.

Iron ore futures in China slid practically 3 p.c to a two-week low, below stress from expectations of additional output cuts by metal producers reeling from weak demand and tighter environmental controls.

The panamax index fell 14 factors to 420 factors.

Average day by day earnings for panamax vessels, which often carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased by $105 to $3,361. (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Alexander Smith)

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