Weak Capesize Demand Drags Down Baltic Dry Index

Sept 30 (Reuters) – The Baltic Exchange’s important sea freight index, which tracks charges for ships carrying dry-bulk commodities, fell on Wednesday, primarily attributable to decrease demand for capesize vessels.

The general index, which elements in common each day earnings of capesize, panamax, supramax and handysize dry-bulk transport vessels, dropped 26 factors or 2.81 p.c to 900 factors as charges fell throughout vessel segments.

The capesize index was down 95 factors, or 4.68 p.c, at 1,936 factors.

Average each day earnings for capesize vessels, which generally transport 150,000-tonne cargoes reminiscent of iron ore and coal, fell $702 to $13,832.

The panamax index dropped 13 factors, or 1.79 p.c, to 712 factors.

Average each day earnings for panamaxes, which often carry 60,000 to 70,000-tonne cargoes of coal or grain, fell $104 to $5,706.

Among smaller vessels, the handysize index slipped two factors to 398 factors and the supramax index fell 10 factors to 703 factors. (Reporting by Apeksha Nair in Bengaluru; Editing by Pravin Char)

(c) Copyright Thomson Reuters 2015.