The main sea freight freight index of the Baltic Exchange dropped on Wednesday. Capesize ships’ drop rates offset gains in the panamax and supramax segments.
The Baltic dry cargo index, which follows the rates of dry cargo ships and is based on capesize, panamax and supramax ships, dropped by 100 drops to 1.849.
The Baltic capesize index fell 398 points, reaching its lowest level since June 17, dropping to 3,570.
The average daily earnings for capesizes, which carry cargo from 170,000 tons to 180,000 tons, usually including iron ore and coal, fell to $ 29,610.
However, rising demand for iron ore from China, after the economy opened up following months of virus-led lockdown, has helped the capesize index gain 83.1% so far this year.
Panamax index increased by 60 points to 1.517.
The average daily earnings for panamaxes, which usually carry about 60,000 tons to 70,000 tons of coal or grain, have risen to $13,651.
The Supramax index rose to 48 points to 773.