Baltic index snaps four-week winning streak as larger vessel rates dip
The Baltic Exchange’s dry bulk sea freight index snapped its four-week winning streak on Friday as rates declined across larger vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 12 points, or 0.5%, at 2,483. However, it declined by about 22% for the week. The capesize index jumped 56 points, or 1.3%, to 4,259. The index fell about 33% for the week. Average daily earnings for capesizes, which typically transport 150,000-ton cargo such as iron ore and coal, increased $466 to ...
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