The Baltic Exchange’s dry bulk sea freight index fell on Friday, pressured by lower rates across vessel segments. However, higher prices across larger vessel category earlier in the week led to an overall weekly increase.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 7 points to 2,259 points. The index was up 2.5% this week.

The capesize index dropped 14 points to 3,627 points. The contract was up about 5.5% for the week.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $118 to $30,076.

Dalian iron ore futures slid on Friday, snapping a four-week rally and finishing the week lower, pressured by the European Commission’s plan to impose steep tariffs on Chinese steel imports.

The panamax index shed 3 points to 1,832 points. The contract was down 0.7% this week.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, fell by $33 to $16,484.

Among smaller vessels, the supramax index was down 4 points at 1,479 points. The index was down about 0.7% for the week.
Source: Reuters