Baltic index extends falls to hit two-week low

Dow Jones Industrial Average -0.51%
S&P 500 index -1.07%
NASDAQ -1.69%

Dow Jones Industrial Average

DJI

48458.05

-0.51%

S&P 500 index

SPX

6827.41

-1.07%

NASDAQ

IXIC

23195.17

-1.69%

- The Baltic Exchange's main sea freight index, which measures rates for ships carrying dry bulk commodities, fell for a fourth straight session to a two-week low on Wednesday as demand in all vessel segments weakened.

* The main index .BADI, which tracks rates for capesize, panamax and supramax shipping vessels, fell 114 points, or 5.4%, to 1,995 points, its lowest level since July 16.

* The capesize index .BACI lost 290 points, or 8.3%, to 3,186, marking its lowest level in a week. The index is down for the third straight session.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $2,408 to $26,422.

* Prices of iron ore futures retreated on Wednesday as hopes of more stimulus from top consumer China faded, erasing earlier gains that were underpinned by prospects of a further extension of a tariff truce between the U.S. and the Asian country.IRONORE/

* The panamax index .BPNI slipped 52 points, or 3%, to 1,689, its lowest level since July 9, marking its 11th consecutive session of decline.

* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, decreased by $468 to $15,203.

* Among smaller vessels, the supramax index .BSIS shed 10 points, or 0.8%, to 1,271, at more than a two-week low.


(Reporting by Anushree Mukherjee in Bengaluru; Editing by Vijay Kishore)

((anushree.ashishMukherjee@thomsonreuters.com;))

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