The Baltic Exchange’s main sea freight index on Thursday declined for a third straight session, weighed down by weaker demand for capesize and panamax vessels.
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.2%, to 1,518.
The capesize index declined 108 points, or 4.6%, to 2,239.
Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, were down by $898 at $18,570.
The panamax index fell 57 points, or 3.2%, to 1,700.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $514 to $15,301.
The supramax index edged 3 points higher to 957.