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Baltic index dips to over 1-month trough as capesizes weigh
The Baltic Exchange’s main sea freightindex dipped to its lowest in more than a month on Monday, aslosses in the capesize segment outweighed gains in panamax andsupramax vessel rates.
The Baltic dry index, which tracks rates forcapesize,panamax and supramax vessels ferrying dry bulk commodities, wasdown 16 points, or 1.2% to 1,317, its lowest since Dec. 17,2020.
The capesize index slipped 73 points, or 4.8%, to1,454,a near two-month low. The index was down for the 13th session ina row.
Average daily earnings for capesizes, which typicallytransport150,000-tonne cargoes such as iron ore and coal, fell $605 to$12,057.
The panamax index rose 27 points, or 1.6%, to1,689, apeak since mid-August last year.
Average daily earnings for panamaxes, which usually carrycoalor grain cargoes of about 60,000 tonnes to 70,000 tonnes, wereup $238 to $15,198.
The supramax index gained 5 points to 1,149.
Source: Reuters
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