The Baltic Exchange’s main sea freight index registered its worst fall in three months on Thursday, as rates across all vessel segments fell, with capesizes dropping to their lowest level in about two years.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 90 points, or about 7.4%, to 1,123 points, hitting a fresh low since Dec. 9, 2020.
* The index, which tracks rates for ships carrying dry bulk commodities, saw its worst day since late May.
* The capesize index fell 206 points, or about 30.3%, to 474 points, hitting a low since early June 2020.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $1,705 to $3,931.
* The panamax index continued its month-long losing streak, shedding 67 points, or 4.5%, at 1,424 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $606 to $12,816.
* The supramax index snapped its nine-session winning streak, falling 10 points to 1,763 points.
Source: Hellenic Shipping News