According to a Yahoo News report, the Baltic Exchange’s main sea freight index, that tracks rates for ships ferrying dry bulk commodities, fell for a 6th straight session to a more than one-month low on Monday, on weaker vessel rates.
How did it happen?
- The Baltic dry index fell 24 points, or 1.8%, to 1,293, its lowest since June 17.
- The Baltic capesize index dropped 32 points, or 1.5%, to 2,052, its lowest in nearly six weeks.
- Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, declined by $270 to $17,014.
- The panamax index slipped 37 points, or about 3.1%, to 1,161.
- Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $337 to $10,449.
- The supramax index was down 9 points at 906.
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Source: Yahoo News