Bulk Freight Rates Sink
Baltic Dry Index slides further.
-- Purchasing, 10/15/2009 2:00:00 AM
The baltic dry index, which measures dry bulk ocean freight rates in a collection of lanes, has dropped steadily from a recent peak in June above 4,000 to its close Sept. 23 of 2,175. Reuters reports that average Capesize earnings, for example, fell to $23,762 in late September, down 74% from their June peak. "Panamaxes are beginning to feel the pressure as well on increased competition from Capes as well as lighter volumes than last week," Dahlman Rose & Company said in a note.
Talkback
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