Baltic index marks worst week in seven on lower vessel demand
The Baltic Exchange’s main sea freight index recorded its worst week in seven, weighed down by weaker demand across vessel segments. However, an uptick in capesize vessel rates helped snap a six-session losing streak on Friday. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged up 27 points, or 1.49%, to 1,844 points. On a weekly basis, the index has fallen 13.4%. The capesize index gained 117 points, or 4.57%, to 2,675, but registered a weekly decline of 18%. Average daily earnings for capesize ...
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