Baltic index falls to its lowest in over a month on weaker vessel rates

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The Baltic Exchange’s dry bulk sea freight index hit its lowest level in more a month on Wednesday, as rates declined across all vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 85 points, or 3.8%, to 2,128 points.

The capesize index fell 134 points, or 8.3%, to 1,490 points.

Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, declined by $1,114 to $12,355.

The panamax index dipped 83 points, or 2.8%, to 2,868 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $753 to $25,809.

The supramax index dropped 55 points to 2,605 points.

Source: Reuters