The Baltic Index records the worst week in more than a month

The Baltic Main Sea Transport Index, which measures tariffs for ships carrying dry bulk commodities, rises higher on Friday but records the worst weeks from the beginning, burdened with lower rates at all ship segments.

The main index, which tracks the tariff for shipping shipping ships, Panamax and Supramax, rose 15 points, or 0.75%, to 2,018 points, although posted weekly losses of more than 10%, marking the worst performance since June 16.

The Castesize Index increased by 57 points, or 1.8%, to 3,296, but recorded a weekly decline of almost 14%.

The average daily income for capacity ships, which usually transport cargo 150,000 tons such as iron ore and coal, increased $ 473 to $ 27,331.

The price of iron ore futures traded slightly changed on Friday but was determined for weekly losses, due to expectations of more stimulus from leading Chinese consumers for the property sector that struggled to fade, the prospect of requests for reduction for steel manufacturing materials.

The Panamax index fell 15 points, or 0.9%, to 1,644, and fell more than 10% for this week, marking the worst week since April.

The average daily income for Panamax ships, which usually carry 60,000-70,000 tons of coal or seeds, down $ 131 to $ 14,798.

Among the smaller ships, the Supramax index rose 1 point, or 0.08%, to 1,269, marking the second weekly decline in successively.
Source: Reuters