The Baltic Exchange’s dry bulk sea freight index slipped on Tuesday as weaker capesize rates outweighed gains in smaller vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 27 points, or 1.1%, to 2,392 points.
The capesize index was down by 99 points, or 2.4%, at 3,990.
Average daily earnings for capesize vessels, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $818 to $33,093.
Iron ore futures extended gains, amid growing interest for stockpiling in top consumer China in part spurred by the latest batch of upbeat data. IRONORE/
The panamax index .BPNI edged up 8 points, to 2,306 points, its highest level since Dec. 6.
Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, rose $72 at $20,757.
Among smaller vessels, the supramax index, ticked up by 13 points at 1,351 points.
Yemen’s Houthis said they have targeted a tanker, in the Red Sea with naval missiles and Israel’s Eilat region with winged missiles, the group’s military spokesman Yahya Sarea said.
Source: Reuters