The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, snapped its three-session losing streak on Thursday, as rising supramax rates countered weakness in the larger vessel segments.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, rose by four points to 780 points.
Among smaller vessels, the supramax index was up 17 points at 741 points, rising for the eighth straight session.
Meanwhile, the capesize index was unchanged at 711 points, holding near its lowest in nearly two years.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, added $1 to $5,900.
Dalian iron ore futures snapped a two-day rise on Thursday, as concerns over U.S. steel tariffs and potential India taxes outweighed supply snags from Western Australia.
The panamax index fell nine points to 974 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, decreased by $83 to $8,765.
U.S. President Trump warned of reciprocal tariffs earlier today, without giving any specific details, but it has traders worried about the future.
Source: Reuters
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