Please use symbol entry at top right of page to search

Baltic index down for 8th day on decline in vessel rates

April 4 (Reuters) - The Baltic Exchange's dry bulk sea freight index fell for an eighth consecutive session on Monday, pulled down by lower rates in all vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 50 points to 2,307 points.

* The panamax index dipped 58 points, or 1.9%, to 3,015 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, lost $525 to $27,135.

* However, ferrous commodity futures in China climbed with iron ore hovering near an eight-month peak as gloomy domestic factory activity data bolstered expectations of additional economic stimulus measures for the world's top steel producer.

* The capesize index fell 68 points, or 3.7%, to 1,796.

* Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, increased $564 to $14,896.

* The supramax index dropped 38 points to 2,717 points. (Reporting by Rahul Paswan in Bengaluru; Editing by Krishna Chandra Eluri)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Search News

Filter Results

Publication Date

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.