The Baltic Exchange’s main sea freight index on Monday extended its decline for a fifth straight session, pressured by weaker rates for capesize and panamax vessels,says an article published in Reuters.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 110 points, or 4.1%, to 2,571.
* The capesize index fell by 224 points, or about 8%, to 2,594 points.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $1,857 at $21,516.
* The panamax index dropped 104 points, or 3.4%, to 2,944 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased by $938 to $26,493.
* The supramax index lost 22 points to 2,774 points.
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Source: Reuters
