Baltic index drifts lower as supramax hits over 8-month low
Oct 31 (Reuters) -The Baltic Exchange's main sea freight index .BADI tracking rates for ships carrying dry bulk commodities eased on Thursday, as supramax index fell to its lowest level in more than eight months.
* The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, lost 7 points to 1,388 points.
* Among smaller vessels, the supramax index .BSIS lost 25 points to 1,182 points, it's lowest level in over eight months.
* The capesize index .BACI gained 7 points to 1,853 points.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $54 to $15,365.
* Iron ore futures held within a narrow range on Thursday as upbeat industry data from top consumer China lifted sentiment, but gains were capped as investors awaited cues on further stimulus from Beijing next week.IRONORE/
* The panamax index .BPNI gained 2 points to 1,204 points.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $16 to $10,835.
Reporting by Anushree Mukherjee in Bengaluru; Editing by Tasim Zahid
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
