Please use symbol entry at top right of page to search

Baltic index hits six-week low as demand across vessels falls

June 9 (Reuters) - The Baltic Exchange's main sea freight index extended its slide on Thursday to hit the lowest in more than six weeks, hurt by falling rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 68 points, or 2.8%, to 2,342 points.

* The capesize index fell 88 points, or about 3.6%, to 2,369 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $737 to $19,643.

* China's coal imports dropped in May after a strong rebound in the previous month, official data showed on Thursday, as cheap domestic sources and weak demand due to Beijing's zero-COVID curbs dented appetite for overseas cargoes.

* The panamax index dropped 73 points, or 2.7%, to 2,674 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $659 to $24,064.

* Dalian and Singapore iron ore futures slipped as traders continued to worry about weak profits at Chinese steel mills, with fresh COVID alerts in Shanghai and Beijing adding to concerns.

* The supramax index lost 58 points to 2,527 points.

(Reporting by Rahul Paswan in Bengaluru; Editing by Vinay Dwivedi)

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
  • All

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.