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Baltic index down for second week as capesize rates slip

· 02/05/2021 09:45
Baltic index down for second week as capesize rates slip

- The Baltic Exchange's main sea freight index fell for a second straight week, despite recovering slightly on Friday, as rates for the larger capesize vessel segment weakened.

  • The Baltic dry index .BADI, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 6 points, or 0.5%, to 1,333.

  • The index fell about 8.2% this week.

  • The capesize index .BACI dropped for a 12th straight session, falling 13 points, or 0.8%, to 1,527, its lowest since Dec. 14.

  • The index was down 19.2% this week, its second consecutive weekly decline.

  • ​Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $110 to $12,662.

  • The panamax index .BPNI climbed 33 points, or 2%, to 1,662. It rose 1.8% for the week.

  • Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, gained $302 to $14,960.

  • The supramax index .BSIS rose 5 points to 1,144, but finished the week 1.8% lower, its first weekly drop in four.

(Reporting by Bharat Govind Gautam in Bengaluru;
Editing by Vinay Dwivedi)

((BharatGovind.Gautam@thomsonreuters.com; +91-80-6182-3021/ 3590 (If within U.S. call 651-848-5832 );))