The Baltic Exchange’s dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, fell on Friday and posted a weekly decline, dragged by broad losses in the capesize and supramax segments.
The main index, which tracks rates for capesize, panamax and supramax vessels, lost 30 points to 1,688. The index logged a 10% weekly loss.
The capesize index fell 81 points, or 3%, to 2,640. It fell 15.1% for the week.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $735 to $20,444.
Dalian iron ore futures fell on Friday for a second session, dragged down by higher portside stocks of the key steelmaking ingredient in top consumer China, although expectations of demand improving spurred a weekly gain overall.
Among smaller vessels, the supramax index lost 9 points to 976, and was down 10.1% for the week.
Meanwhile, the panamax index added 9 points, or 0.7%, to 1,345, posting an 4.9% weekly rise.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, increased $80 to $12,108.
Source: Reuters
