Baltic Index Up for Fifth Straight Day
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the fifth day this week, helped by higher rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 9 points, or 0.88 percent, at 1,032 points on Friday. The capesize index gained 35 points, or 2.18 percent, at 1,637 points.
Barge Fire Extinguished in the Gulf of Mexico
Emergency responders have extinguished a fire aboard a barge adrift approximately 2 miles west of Cat Island, Miss. U.S. Coast Guard watchstanders received a report at approximately 1:20 p.m. Thursday that a barge being pushed by the tug vessel Kathryn T. Devall caught fire with a reported 2,500 tons of anhydrous ammonia and 800 gallons of diesel fuel. The Gulfport Fire Department has extinguished the fire after the tug crew was unable to put out the blaze and released the barge from the tug.
Oil Prices Dip as OPEC Oil Exports Rise
Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising OPEC exports and strong output from the United States. Brent crude futures, the international benchmark, were trading at $51.76 a barrel at 1141 GMT, 25 cents below the last close and heading for a fall of close to 1.5 percent on the week. U.S. West Texas Intermediate (WTI) crude futures were 30 cents lower at $48.73 per barrel and were set to drop by around 2 percent for the week.
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