The Baltic Exchange’s dry bulk freight index dropped to its lowest point in six weeks on Tuesday, pulled down by declining capesize rates.
The main Baltic index, which monitors rates for capesize, panamax and supramax vessels, fell 68 points, or 2.2%, to 3,002 points. This marks the index’s weakest level since August 25.
The capesize index declined 195 points, or 4%, to 4,638 points, reaching its lowest point since August 21.
Average daily earnings for capesize vessels, which typically carry 150,000-ton cargoes of iron ore and coal, decreased $1,769 to $38,561.
The panamax index added 2 points, or 0.1%, to 2,366 points.
Average daily earnings for panamax vessels, which usually transport 60,000 to 70,000 tons of coal or grain, increased $21 to $21,294.
