The Baltic Exchange’s main sea freight index has fallen for a 10th-straight session with capesize vessel rates nearing a 6 month low.
The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, dropped 34 points, or 2.6%, to 1281, its lowest since 21 November.
The capesize index fell 94 points, or 4.0%, to 2240, its lowest level since 20 June. Average daily earnings for capesizes, which typically transport 170 000 – 180 000 t cargoes, including iron ore and coal, fell US$494 to US$16 566.
The panamax index was down 44 points, or 3%, at 1421. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60 000 – 70 000 t, decreased US$348 to US$11 383. The supramax index fell 13 points to 802.