The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, fell for its seventh straight session on Wednesday, as rates declined for all vessel segments.
The main index, which tracks rates for capesize, panamax, and supramax shipping vessels, eased 4 points to 1,583, its lowest level since March 12.
The capesize index was down 5 points at 2,435, a near four-week low.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, lost $36 to $20,198.
Iron ore futures strengthened on Wednesday, underpinned by resilient seasonal demand for the key steelmaking ingredient that countered trade war concerns ahead of looming U.S. tariffs.
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