The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, fell on Tuesday on weaker rates for large vessels.

The main index, which monitors rates for capesize, panamax and supramax shipping vessels, was down 23 points, or 1.2%, at 1,952.

The capesize index lost 71 points, or 1.9%, to 3,660.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $587 to $30,357.

Dalian iron ore was little changed on Tuesday as traders assessed mixed macroeconomic data and resilient steel demand from top consumer China.

The panamax index fell 4 points, or 0.3%, to 1,406.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, lost $42 to $12,652.

Among smaller vessels, the supramax index gained 6 points to 945, a near two-week high.
Source: Reuters