Export Shipment from Chennai to Worldwide.

Import Shipment from Worldwide to Chennai.


TRC Shipping and Logistics Pvt. Ltd.,
197 (Old No.97) Thambu Chetty Street,
Mannady,
Chennai - 600001

Tel : +91 44 30400798
Fax: +91 44 25245231

Email : chozzhan@gmail.com

Website : www.trcsl.co.in

Our Shipping Directory : www.shipie.com

Tuesday, August 16, 2011

Baltic index taking a hit due to choppy financial waters

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, softened early in the week as light business and the wider financial turmoil took their toll on the market. The overall index fell 0.32 percent, or four points, to 1,264 points.

Earlier this month, the index had fallen to its lowest in morethan three months after dropping for 18 consecutive sessions. It has remained erratic and has declined more than 25 per cent this year. With fear gripping financial markets following the downgrade of US dept rating by S&P, it was seen as another concern for the market given the general negative sentiment.

Worries for the health of the world economy signal more pain and even bankruptcies among dry bulk shipowners who are getting rock-bottom rates to carry cargoes like coal and now face a glut of new vessels ordered when times were good. The Baltic's Capesize index fell 0.61 per cent as average daily earnings inched lower to $.10,032 a day. Capesizes typically haul 150,000-tonne cargoes such as iron ore and coal.

The Baltic's Panamax index fell 0.14 per cent, with average daily earnings for Panamaxes, which usually transport 60,000 to 70,000 tonne cargoes of coal or gains, reaching $.11,785. Brokers said they were watching for further developments in China, facing its worst power shortages in years, which is likely to have an impact dry freight activity.

5 comments:

Sarah John said...

very simply explained. It is indeed an art to read & stop new visitors with your attractive writing style. I am really impress from your posted information. Thanks for sharing.
<a href="http://www.customsclearanceworld.com.au>sea freight</a>

Brooke said...

i like your blog post. Shipping International fastest international moving services to overseas countries services provide and low cost shipping services for International Shipping, container shipping rates, international car shipping and international freight shipping http://www.shippinginternational.com/

Cargo Services said...

Great news here of Shipping Services

Negi said...

Thanks for great information you write it very clean. I am very lucky to get this tips from you


Canada Freight Shipping

Angela Navejas said...

This an important blog for those who involve in world wide shipping business to get daily changes in the shipping world.

Shipping from USA to India | Shipping from India to USA