Baltic index snaps 5-day run as rates for panamax, smaller vessels dip

Date: Jan 30, 2018
The Baltic Exchange’s main sea freight index inched lower on Monday, ending a five-day winning streak, as rates for panamax and smaller vessels eased.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, shed 5 points, or 0.41 percent, at 1,214 points.

The panamax index was down 7 points, or 0.47 percent, at 1,485 points, after rising to over 5-week highs in the previous session.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined $59 to $11,899.

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