The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged lower on Monday as rates for Capesize vessels declined.
The overall index. BADI, which factors in rates for capesize, panamax, and supramax shipping vessels, lost 4 points, or 0.2%, to 1,993.
The capesize index. BACI fell 33 points, or 1%, to 3,263.
Average daily earnings for capesize vessels. BATCA, which typically transports 150,000-ton cargoes, such as iron ore and coal, was down $280 at $27,058.
Iron ore futures prices rose on Monday, underpinned by growing bets that top consumer China will unveil more stimulus in its third plenum this week after a batch of economic data disappointed investors.
The Panamax index. BPNI jumped 24 points, or about 1.4%, to 1,702, hitting its highest level in nearly three weeks.
Average daily earnings for Panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, increased $214 to $15,320.
The supramax index is among smaller vessels. BSIS climbed 4 points, or 0.3%, to 1,368, marking its highest level since July 1.
A merchant vessel in the Red Sea reported three missiles had exploded nearby on Monday, after the ship earlier came under attack by three small craft, Britain’s maritime agency and security firm Ambrey said.
Source: XM
