The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, posted a weekly decline on Friday as rates for the Capesize segment fell for the week.
* The overall index. BADI, which factors in rates for capesize, Panamax, and supramax shipping vessels, lost 10 points, or 0.5%, to 1,902. The index dropped 4.3% for the week.
* The capesize index. BACI fell 34 points, or 1.1%, to 2,973, posting its biggest weekly decline since May 17.
* Average daily earnings for capesize vessels. BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, was down $289 to $24,652.
* Iron ore futures prices fell on Friday, posting a weekly loss, as lack of concrete stimulus from China and weak seasonal demand for steel weighed on the market.
* The panamax index. BPNI was unchanged at 1,714.
* Average daily earnings for Panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, rose $4 to $15,427.
* Among smaller vessels, the supramax index. BSIS climbed 4 points, or 0.3%, to 1,374.
Source: XM
