The Baltic Alternate’s dry bulk sea freight index, which measures transport charges for vessels transporting dry bulk commodities, recorded its fourth consecutive weekly decline on Friday, dragged down by losses throughout all vessel segments for the week.
The index, which components in charges for capesize, panamax and supramax transport vessels, fell 4 factors to 1,051 factors on Friday, its lowest since late July 2023. The index was down about 10% for the week.
The panamax index fell 26 factors to 995 factors. The index additionally posted a weekly loss. Common day by day earnings for panamax vessels, which often carry 60,000-70,000 tons of coal or grain cargo, decreased $231 to $8,955.
The capesize index logged its fourth straight weekly loss regardless of gaining 11 factors to 1,263 factors on Friday. Common day by day earnings for capesize vessels, which usually transport 150,000-ton cargoes resembling iron ore and coal, elevated by $92 to $10,474.
Iron ore futures retreated, however ended the week increased as traders assessed high client China’s newest pledge of additional stimulus measures to shore up its faltering financial system.
Amongst smaller vessels, the supramax index was down 2 factors at 959 factors, whereas additionally posting a weekly loss.
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