The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, fell on Monday, pressured by declining rates across all vessel segments.
The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 39 points to 2,220 points.
The capesize index dropped 103 points to 3,524 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $848 to $29,228.
Iron ore futures prices declined on Monday, pressured by sluggish steel demand and mounting inventories at Chinese ports.
Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, fell by $126 to $16,358.
Among smaller vessels, the supramax index was down 1 point at 1,478 points, its lowest since September 9.
(Reuters)
