The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, closed lower on Tuesday, as demand fell across vessel segments.
- The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, closed down by nine points, or 0.8 percent, at 1,117 points.
- The capesize index finished lower by six points, or 0.5 percent, at 1,191 points.
- Despite a $1 rise in the average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, to $9,305, this occurred.
- The panamax index dropped 23 points, or 1.46 percent, to end at a three-week low of 1,552 points.
- Average daily earnings for panamaxes, which usually carries coal or grain cargoes of about 60,000 to 70,000 tonnes, fell by $185 to $12,471.
- The supramax index fell 10 points to 1,106 points. The 0.9 percent decline was the index’s steepest since Feb. 9.
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Source: MarineLink
