Weak demand across vessels drags Baltic index to 10-month low
Jan 12 (Reuters) - The Baltic Exchange's dry bulk sea
freight index extended losses on Wednesday to a 10-month
low, pressured by lower rates across all its vessel segments.
* The overall index, which factors in rates for capesize,
panamax and supramax vessels, fell 124 points, or 5.8%, to
2,027, its lowest since March 16.
* The capesize index dropped 228 points, or 9.8%, to
a 10-month low of 2,097.
* Average daily earnings for capesizes, which transport
150,000-tonne cargoes such as iron ore and coal, dropped by
$1,894 to $17,390.
* The panamax index fell 150 points, or 5.5%, to
2,565, its lowest since Dec. 23.
* Average daily earnings for panamaxes, which ferry
60,000-70,000 tonne coal or grain cargoes, fell by $1,354 to
$23,081.
* Chinese coking coal futures on the Dalian Commodity
Exchange jumped on Wednesday, boosted by restocking demand at
steel mills as supply of the materials is relatively tight ahead
of Lunar New Year holidays.
* The supramax index fell 22 points to its lowest
level since April at 1,936.
(Reporting by Brijesh Patel in Bengaluru; Editing by Maju
Samuel)
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