The
Baltic Exchange’s main sea freight index extended losses to a sixth straight
session on Tuesday 24 Jan to touch a fresh 2-1/2-year low, dragged down by a
dip in capesize and panamax rates.
The overall index, which factors in
rates for capesize, panamax and supramax shipping vessels, fell 19 points, or
about 2.6%, to 721, its lowest since early-June 2020.
The
capesize index (.BACI) lost 50 points, or 6.8%, to 685, its lowest since
mid-September 2022.
Average
daily earnings for capesizes (.BATCA), which typically transport 150,000-tonne
cargoes such as iron ore and coal, were down $410 at $5,684.
The panamax index (.BPNI) was down 13
points, or about 1.2%, at 1,035, also a more than two-year low.
Average
daily earnings for panamaxes (.BPWT), which usually carry coal or grain cargoes
of about 60,000 tonnes to 70,000 tonnes, fell by $115 to $9,313.
Among
smaller vessels, the supramax index (.BSIS) snapped its more than a month long
losing streak, gaining four points to 649.