The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, edged down on Monday, pressured by weaker panamax vessel rates.
The main index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 12 points, or 0.5%, to 2,193 points, its lowest since November 17.
The capesize index snapped a seven-day losing streak, gaining 13 points, or about 0.4%, to 3,719 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $110 to $30,841.
Prices of Dalian iron ore fell on Monday to hit their lowest level in more than five months, as top consumer China’s plan to roll out a licence system from 2026 to regulate steel exports cast a shadow on demand prospects.
The panamax index lost 44 points, or 2.6%, to 1,644 points, its lowest level in four months.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, decreased by $398 to $14,796.
Among smaller vessels, the supramax index lost 11 points to 1,360 points. Source: Reuters
