The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped on Thursday, dragged down by losses across all vessels.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 28 points to 1,417 points.
The capesize index fell 62 points to 1,859 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $516 to $15,416.
Dalian iron ore futures prices declined on Thursday, as investors weighed mixed production data while a softer global steel market outlook added pressure on prices.
The panamax index eased 22 points to 1,216 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, fell by $193 to $10,945.
Among smaller vessels, the supramax index lost 4 points to 1,245 points.
Source: Reuters
