Investing.com — The Baltic Exchange’s dry bulk freight index dropped on Monday as rates declined across all vessel categories.
The main Baltic index, which measures rates for capesize, panamax and supramax vessels, fell 38 points, or 1.4%, to 2,684.
The capesize index decreased 75 points, or 1.8%, to 4,074. The index had reached its highest level since June 10 in the previous session.
Average daily earnings for capesize vessels, which typically transport 150,000-metric-ton cargoes including iron ore and coal, dropped $684 to $33,444. China’s coking coal futures declined on expectations of increased supply after production restarted in Shanxi and from growing imports.
The panamax index fell 37 points, or 1.8%, to 2,059.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, decreased $328 to $18,532.
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