June 1 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, dropped on Thursday to its lowest level in 14 weeks on falling rates across vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 28 points, or 3.19 percent, at 850 points – its lowest level since Feb. 23.
The capesize index lost 81 points, or 5.36 percent, to end at 1,430 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $678 at $10,375.
The panamax index was down 19 points, or 2.29 percent, to close at 810 points – its lowest since Jan. 4.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $156 to $6,502.
Among smaller vessels, the supramax index was down 13 points at 685 points, while the handysize index fell 6 points to 449 points. (Reporting by Nithin Prasad in Bengaluru)
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,011 members that receive our newsletter.
Have a news tip? Let us know.
U.S. President-elect Donald Trump is serious about trying to acquire Greenland, both to expand America's sphere of influence in the Western Hemisphere and as a way to cement his legacy, according to three sources familiar with his thinking.
A Norwegian shipping company on Friday rejected an accusation from Dmitry Medvedev, deputy chairman of Russia's Security Council, that it refused to rescue sailors from a sinking Russian cargo ship in the Mediterranean Sea.
Israel struck multiple targets in Yemen it said were controlled by Houthis, the last of the Iran-backed groups still fully engaged in the regional war that began 14 months ago.
Maritime and offshore news trusted by our 109,011 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
