Multi-week lows across vessel segments drag Baltic index to 12-week low
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a near 12-week low on Tuesday, with all three of its component indexes hitting multi-month lows. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 61 points, or over 2.8%, to 2,098 points, its lowest since April 13. The capesize index slipped 144 points, or nearly 6.5%, to 2,084 points, its lowest in more than 10 weeks. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such ...
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