Baltic index logs worst month in 3 years on lower vessel demand
The Baltic Exchange’s main sea freight index registered its biggest monthly percentage fall in three years, weighed by weaker demand across all vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, inched 1 point higher at 681 on Tuesday. But the main index has lost 55% for the month. The capesize index lost 1 point at 532, its lowest in nearly five months. The index has fallen 76.5% for the month, the worst since August 2022. Average daily earnings for capesizes, which typically ...
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