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| Baltic Dry Index falls to 625, down 9 points |
| 2016-05-21 |
| Today, Friday, May 20 2016, the Baltic Dry Index decreased by 9 points, reaching 625 points. Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points. Source: Hellenic Shipping News Worldwide Baltic index falls on weaker demand for larger vessels The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday on weaker demand for larger vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down nine points, or 1.42 percent, at 625 points. The capesize index lost 36 points, or 3.97 percent, at 870 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $397 to $6,981. The panamax index was down three points, or 0.49 percent, at 614 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $19 to $4,909. Among smaller vessels, the supramax index rose four points to 562 points, while the handysize index rose one point to 343 points. Source: Reuters (Reporting by Nithin Prasad in Bengaluru) |
| Posted by:badanov |