The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, was little changed on Monday, as higher panamax vessel rates offset weaker capesize and supramax prices.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, edged up 1 point to 1,168 points.
The capesize index fell 3 points to 1,532 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $25 to $12,702.
Iron ore futures rebounded on Monday, ending a two-session decline, as hopes of further Chinese stimulus overshadowed the top consumer’s uncertain economic prospects.
The panamax index rose 12 points to 1,079 points, its highest level since Nov. 22.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $107 to $9,713.
Among smaller vessels, the supramax index edged down 3 points to 971 points, its lowest level since Aug. 2023.
Source: Reuters
