The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday, pressured by losses across all vessel segments.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 39 points to 1,537 points.
The capesize index lost 98 points to 2,626 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $817 to $21,778.
Iron ore futures fell amid risk-off sentiment across the financial markets due to the intensifying Ukraine-Russia conflict.
The panamax index lost 23 points to 1,083 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, shed $204 to $9,747.
Among smaller vessels, the supramax index lost 3 points to 984 points.
Source: Reuters (Reporting by Anjana Anil in Bengaluru; Editing by Krishna Chandra Eluri)
