Baltic dry bulk index slips as capesize rates weaken

Dow Jones Industrial Average -0.20%
S&P 500 index -0.64%
NASDAQ -1.15%

Dow Jones Industrial Average

DJI

0.00

S&P 500 index

SPX

0.00

NASDAQ

IXIC

0.00

- The Baltic Exchange's main sea freight index that tracks rates for ships carrying dry bulk commodities fell on Wednesday, weighed by a decline in capesize vessel rates.

* The main index .BADI, which monitors rates for capesize, panamax and supramax shipping vessels, was down 16 points, or 1%, at 1,665, hitting its lowest level since June 6.

* The capesize index .BACI fell 93 points, or 3.3%, to 2,724, hitting its lowest level since June 4. The contract was down for a seventh-straight session.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $768 to $22,592.

* Iron ore futures prices fell for a second straight session on Wednesday, weighed down by rising shipments from Australia and Brazil and a seasonal slowdown in demand from top consumer China. IRONORE/

* The panamax index .BPNI rose 41 points, or 3%, to 1,425, gaining for the third straight session.

* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, increased $370 to $12,825.

* Among smaller vessels, the supramax index .BSIS gained 11 points or 1.1% to 994.


(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Sahal Muhammed)

((sherinelizabeth.varghese@thomsonreuters.com;))

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via