The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a third consecutive session on Thursday, hurt by weaker rates across the capesize and supramax segments.<\/em><\/strong><\/p>\nThe index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 40 points at 1,023 points, its lowest level in a week.<\/p>\n
The capesize index fell 99 points to 1,482 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $815 to $12,294.<\/p>\n
Prices of iron ore futures rose to a four-week high, supported by reduced shipments from a major producer and growing expectations of further rate cuts by the Federal Reserve following cooler-than-expected U.S. inflation data.<\/p>\n
The panamax index added 2 points to 896 points, snapping a six-day losing streak. Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, rose by $10 to $8,060.<\/p>\n
Among smaller vessels, the supramax index fell 18 points to 765 points, its lowest level in 17 months.<\/p>\n
Elsewhere, Russia on Thursday accused NATO and the West of making “evidence-free” allegations against Moscow over ships purportedly involved in sabotaging undersea cables in an effort to curb sea-borne Russian oil exports.<\/p>\n<\/p><\/div>\n<\/div>\n
maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"
Noel John
January 16, 2025
The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a third consecutive session on Thursday, hurt by weaker rates across the capesize and supramax segments. The index, which factors in rates for capesize, panamax and supramax shipping …<\/p>\n","protected":false},"author":1,"featured_media":54727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-54726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/54726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=54726"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/54726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/54727"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=54726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=54726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=54726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}