The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, was steady on Monday as gains in the Panamax and Supramax segments offset a decline in Capesize rates.
The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was unchanged at 1,948.
The capesize index slipped 19 points, or 0.6%, to 2,938.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, was down $162 at $24,363.
Iron ore futures prices slid after downbeat economic data as well as floods and high temperatures in top consumer China cast a shadow over the near-term demand outlook.
The panamax index was up 10 points, or about 0.5%, to 1,960, its highest level since May 14.
Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, gained $91 to $17,637.
Among smaller vessels, the supramax index was up 11 points, or 0.8%, to 1,346, marking its highest level since May 23.
Source: Hellenic Shipping News
