The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a second consecutive session on Thursday, dragged by declining rates in capsize shipping vessels.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 14 points, or 0.94%, at 1,473 points.
The capesize index lost 67 points, or 2.9%, at 2,196 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $556 to $18,215.
Iron ore futures in China climbed to near a one-week high on Thursday, on hopes of better demand from the property market as China signaled some support to the struggling sector.
The panamax index was up 29 points, or 2%, to 1,474 points, the highest level since Feb. 1.
Average daily earnings for panamax vessels, which usually carries about 60,000 tons to 70,000 tons of coal or grain cargo, was up by $263 at $13,269.
Among smaller vessels, the supramax index gained 3 points at 1,050 points.
Source: Hellenic Shipping News
