The Baltic Trade’s predominant sea freight index dipped on Wednesday, pressured by decrease charges for the capesize and panamax vessel segments.
The Baltic dry index, which tracks charges for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 18 factors, or 1%, at 1,709.
The capesize index fell 109 factors, or 6.8%, to an over one-week low of 1,485.
Common every day earnings for capesizes, which usually transport 150,000-tonne cargoes equivalent to iron ore and coal, misplaced $901 to $12,315.
The panamax index dropped 30 factors, or 1.3%, to 2,276.
Common every day earnings for panamaxes, which often carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, had been down by $270 at $20,485.
The supramax index superior 78 factors to 1,822, its highest degree as per Refinitiv Eikon data going again to April 2017.
Sturdy exercise out of the U.S. Gulf and the splitting of cargo from panamax vessels improved efficiency of the supramax phase, Intermodal mentioned in a weekly analysis notice.
(Reporting by Bharat Govind Gautam; Enhancing by Aditya Soni)