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2021-07-16

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Baltic index posts first weekly fall in six on weak demand

July 16 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carr

Baltic index posts first weekly fall in six on weak demand

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The index retreated 7.9% this week, its biggest fall since the week ended May 28.</p>\n<p>* The capesize index fell 18 points, or 0.5%, to 3,442, the lowest since July 6. The index posted a 7.8% weekly decline.</p>\n<p>* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, reduced by $152 to $28,542.</p>\n<p>* Chinese stainless steel futures surged due to strong consumption and a raw material supply crunch, while concerns over output cut in the steel sector also supported prices.</p>\n<p>* The panamax index fell 73 points, or nearly 2%, to 3,635. The index dropped 11.4% for the week, its biggest drop since the week ended April 9.</p>\n<p>* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $651 to $32,719.</p>\n<p>* The supramax index fell 24 points to 2,775, ending the week 4% lower.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baltic index posts first weekly fall in six on weak demand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaltic index posts first weekly fall in six on weak demand\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-16 21:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 16 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, slid on Friday and snapped five straight weekly gains on weakening vessel demand.</p>\n<p>* The main index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 34 points, or 1.1%, to 3,039. The index retreated 7.9% this week, its biggest fall since the week ended May 28.</p>\n<p>* The capesize index fell 18 points, or 0.5%, to 3,442, the lowest since July 6. The index posted a 7.8% weekly decline.</p>\n<p>* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, reduced by $152 to $28,542.</p>\n<p>* Chinese stainless steel futures surged due to strong consumption and a raw material supply crunch, while concerns over output cut in the steel sector also supported prices.</p>\n<p>* The panamax index fell 73 points, or nearly 2%, to 3,635. The index dropped 11.4% for the week, its biggest drop since the week ended April 9.</p>\n<p>* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $651 to $32,719.</p>\n<p>* The supramax index fell 24 points to 2,775, ending the week 4% lower.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151502682","content_text":"July 16 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, slid on Friday and snapped five straight weekly gains on weakening vessel demand.\n* The main index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 34 points, or 1.1%, to 3,039. The index retreated 7.9% this week, its biggest fall since the week ended May 28.\n* The capesize index fell 18 points, or 0.5%, to 3,442, the lowest since July 6. The index posted a 7.8% weekly decline.\n* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, reduced by $152 to $28,542.\n* Chinese stainless steel futures surged due to strong consumption and a raw material supply crunch, while concerns over output cut in the steel sector also supported prices.\n* The panamax index fell 73 points, or nearly 2%, to 3,635. 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