Baltic index down for 10th straight session on lower rates

The Baltic Exchange’s main sea freight index fell for the tenth straight session on Friday, as rates remained weak across all vessel segments.

The Baltic index, which tracks rates for ships carrying dry bulk commodities, was down 6 points, or 0.65 percent, at 912 points – its lowest since early March.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels was down over 4 percent for the week.

The capesize index fell 4 points, or 0.25 percent, to 1,591 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $41 to $11,709.

The panamax index was down 3 points, or 0.35 percent, at 845 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $24 to $6,795.

Among smaller vessels, the supramax index slipped 7 points to 721 points, and the handysize index was down 4 points at 469 points.