The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Monday, weighed down by a dip in rates for the capesize and panamax vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 24 points, or 1.2%, to 1,973.
The capesize index lost 49 points, or 1.6%, to 3,093.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, was down $409 at $25,650.
Iron ore futures extended losses to their lowest levels in more than two months, pulled down by signs of dull steel consumption in top consumer China and a stronger U.S. dollar.
The panamax index edged lower by 35 points, or about 1.9%, to 1,792, its lowest level since June 10.
Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, lost $310 to $16,131.
Among smaller vessels, the supramax index was up 7 points, or 0.5%, to 1,405, its highest level since May 16.
Source: Hellenic Shipping News
