The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday, pressured by capesize and panamax vessel segment losses.
The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, fell 87 points, or 2.8%, to 3,037.
The capesize index was down 213 points, or 4.1%, at 5,040.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes including iron ore and coal, fell $1,934 to $42,204.
Iron ore prices slid on Thursday to record their biggest daily losses in nearly two months, weighed down by rising concerns about demand in top consumer China as steel margins shrink and steel consumption weakens amid high input costs.
The panamax index fell 36 points to 2,254.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, lost $322 to $20,285.
Among smaller vessels, the supramax index was up 1 point at 1,584.
(Reuters)
