The Baltic Exchange’s dry bulk sea freight index fell on Monday, pressured by falling rates across the panamax and supramax vessel segments.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 4 points to 1,374 points.
The capesize index rose 1 point to 1,849 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $3 to $15,332.
Iron ore futures swung to gains from losses as the market keenly awaited a key meeting of the top leadership in biggest consumer China for cues on stimulus measures.
The panamax index lost 4 points to 1,195 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, fell $31 to $10,758.
Among smaller vessels, the supramax index lost 9 points to 1,154 points.
Source: Reuters
