The Baltic Change’s dry bulk sea freight index, which tracks prices for ships carrying dry bulk commodities, hit a one-week low on Friday and marked a second straight weekly fall as prices all through all segments weakened.
The index, which components in prices for capesize, panamax and supramax transport vessels, slipped 36 elements at 987 elements, its lowest diploma since Jan. 9. It was down 5.8% for the week.
The capesize index fell 89 elements to a one-week low of 1,393 elements and misplaced 3.8% this week. Widespread day-after-day earnings for capesize vessels, which typically transport 150,000-ton cargoes similar to iron ore and coal, decreased by $739 to $11,555.
Iron ore futures prices hit their highest in further than 4 weeks and have been set for weekly optimistic elements, as a raft of better-than-expected data from prime shopper China buoyed sentiment and China demand stayed resilient.
The panamax index added 1 stage to 897 elements nevertheless registered a second consecutive weekly decline. Widespread day-after-day earnings for panamax vessels, which frequently carry 60,000-70,000 tons of coal or grain, rose by $10 to $8,070.
Amongst smaller vessels, the supramax index fell 18 elements to 747 elements, its lowest diploma in 17 months.
Elsewhere, freight prices for shipments of Russian oil from its western ports to India rose by 25% after the U.S. imposed sanctions on 183 vessels involved in Moscow’s energy exports each week previously, three shopping for and promoting sources talked about and Reuters calculations confirmed.