The Baltic Change’s dry bulk sea freight index, which tracks costs for ships carrying dry bulk commodities, fell for a third consecutive session on Thursday, injury by weaker costs all through the capesize and supramax segments.
The index, which elements in costs for capesize, panamax and supramax transport vessels, was down 40 elements at 1,023 elements, its lowest stage in each week.
The capesize index fell 99 elements to 1,482 elements. Frequent every day earnings for capesize vessels, which often transport 150,000-ton cargoes equal to iron ore and coal, decreased by $815 to $12,294.
Prices of iron ore futures rose to a four-week extreme, supported by decreased shipments from a major producer and rising expectations of extra worth cuts by the Federal Reserve following cooler-than-expected U.S. inflation info.
The panamax index added 2 elements to 896 elements, snapping a six-day shedding streak. Frequent every day earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, rose by $10 to $8,060.
Amongst smaller vessels, the supramax index fell 18 elements to 765 elements, its lowest stage in 17 months.
Elsewhere, Russia on Thursday accused NATO and the West of developing “evidence-free” allegations in opposition to Moscow over ships purportedly involved in sabotaging undersea cables in an effort to curb sea-borne Russian oil exports.