The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities slipped to a more than one-week low on Tuesday, pressured by weaker demand across all vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 73 points, or 3.53%, to 1,993, its lowest level since May 3.
The capesize index slipped 177 points, or 5.69%, to 2,931.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes of iron ore and coal, among others, decreased $1,462 to $24,311.
The panamax index was down 39 points, or about 1.93%, at 1,978 for the second consecutive session.
Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, lost $358 to $17,799.
Among smaller vessels, the supramax index eased 10 points, or 0.67%, to 1,475.
Source: Hellenic Shipping News
