Baltic index falls for third week on weaker rates across vessels
Oct 18 (Reuters) -The Baltic Exchange's main sea freight index dipped on Friday, marking its worst week in five months as demand for all vessel segments declined.
* The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, shed 18 points to 1,576 points and it fell over 11% for the week, marking its third consecutive weekly drop.
* The capesize index .BACI fell 46 points to 2,276 points. The index fell over 18% this week.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $384 to $18,875.
* The panamax index .BPNI eased 3 points to 1,285 points and lost over 10% on a weekly basis.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, fell by $29 to $11,562.
* Dalian iron ore futures prices fell on Friday to close the week lower, weighed by data showing continued weakness in China's economy and steel market, although news of fresh measures from the top consumer's central bank limited losses.IRONORE/
* Among smaller vessels, the supramax index .BSIS lost 4 points to 1,250.
Reporting by Rahul Paswan in Bengaluru; Editing by Vijay Kishore
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
