Baltic index extends losses for 8th session on weaker vessel rates

Dow Jones Industrial Average +0.23%
S&P 500 index +0.80%
NASDAQ +1.14%

Dow Jones Industrial Average

DJI

39087.38

+0.23%

S&P 500 index

SPX

5137.08

+0.80%

NASDAQ

IXIC

16274.94

+1.14%

- The Baltic Exchange's main sea freight index .BADI, tracking rates for ships carrying dry bulk commodities, fell for the eighth straight session on Monday, dragged lower by a dip in rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell to a six-week low, slipping 61 points, or 3.9%, to 1,502.

* The capesize index .BACI lost 135 points, or 6.1%, to 2,091, its lowest since September 22.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, lost $1,117 to $17,344.

* Iron ore extended its climb with the most active Dalian futures at the key psychological level of 900 yuan($122.98) a metric ton, boosted by solid demand and optimism following top consumer China's decision to roll out fiscal stimulus. IRONORE/

* The panamax index .BPNI declined 30 points or 1.9%, to 1,575.

* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000 to 70,000 tonnes of coal or grain cargoes, fell $271 to $14,177.

* Among smaller vessels, the supramax index .BSIS shed 25 points or 2.1%, to 1,159 - its lowest level in seven weeks.


(Reporting by Tina Parate in Bengaluru; Editing by Tasim Zahid)

((tina.parate@thomsonreuters.com;))

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via