Baltic Dry Index Marks First Weekly Decline
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The overall index, which tracks rates for capesize, panamax, and supramax vessels, rose by 5 points to 1,489.
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However, the index saw a roughly 3% drop for the week, marking its largest weekly decline since the week ending February 17.
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The capesize index climbed 26 points, or about 1.4%, to 1,882, though it was down 1.6% for the week.
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Average daily earnings for capesize vessels, which typically carry 150,000-ton cargoes such as iron ore and coal, increased by $215 to $15,611.
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Iron ore futures in Dalian and Singapore rebounded during afternoon trading, supported by data showing continued declines in inventories at Chinese ports over the past week.
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The panamax index dropped by 12 points to 1,572, posting an 8.8% decline for the week—its biggest weekly percentage fall since February 3.
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Average daily earnings for panamax vessels, which usually carry coal or grain cargoes of around 60,000 to 70,000 tons, fell by $111 to $14,149.
