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Baltic index dips on lower capesize rates


The Baltic Exchange’s dry bulk sea freight index slipped on Friday, as a dip in capesize rates overshadowed gains in the panamax and supramax segments.

The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 2 points to 1,423.

The capesize index slipped 49 points, or 3.8%, to 1,242.

Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell by $408 to $10,302.

The panamax index rose 25 points to 1,796.

Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, increased by $226 to $16,165.

The supramax index gained 23 points at 1,594.

Source: Reuters

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