The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, eased from a near two-year-peak on Thursday, pressured by weaker rates across all segments.
The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell by 31 points, or 1.1%, to 2,815 points. The index logged its highest level since December 2023 in the previous session.
The capesize index lost 68 points, or about 1.3%, to 5,319 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $564 to $44,108.
Iron ore futures prices slipped for a second consecutive session on Thursday, as mounting global supplies weighed on market sentiment.
The panamax index fell by 29 points, or 1.5%, to 1,863 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, decreased by $265 to $16,767.
Among smaller vessels, the supramax index lost 3 points to 1,441 points.
Source: Reuters