London, Friday, 22 July 2023
The main sea freight index for the Baltic Exchange, which gauges the price of carrying products around the world, dropped 10% to 978 points in the third week of July.
The capesize index, which monitors ships that frequently transport 150,000-tonne cargoes like coal and iron ore, fell 13% to 1,442 points.
Additionally, the panamax index, which monitors ships that typically transport grain or coal cargoes weighing between 60,000 and 70,000 tonnes, dropped to 924 points, falling for the sixth week in a row. The supramax index for smaller vessels remained stable at 758 points.
(Written and edited by: The Decision Maker - Maritime editors)