The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell on Wednesday, as lower rates in the capesize segment overshadowed gains in the panamax and supramax segments.
The main index, which monitors rates for capesize, panamax and supramax shipping vessels, lost 32 points to 1,374.
The capesize index fell by 102 points to 1,935.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $847 to $16,050.
Meanwhile, the panamax index added two points to 1,362.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, was up $19 to $12,257.
Among smaller vessels, the supramax index added four points to 961.
“The United States remains a vital hub in the global dry bulk trade, with its ports especially those along the Gulf Coast, East Coast, and Great Lakes processing significant volumes of coal, grain, and iron ore,” shipbroker Allied said in a weekly note dated Monday.
Source: Reuters