Dry Bulk Vessel Rates Sag Across Segments
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, declined on Tuesday, hurt by lower rates across all vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 8 points, or 0.5 percent, at 1,468 points.
The capesize index lost 33 points, or 1.3 percent, to end at 2,602 points.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $155 at $20,646.
The panamax index was down 3 points, or 0.2 percent, at 1,237 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $23 to $9,971.
The supramax index fell 2 points to 1,053 points.
(Reporting by Harshith Aranya in Bengaluru)