The Baltic Shipping Exchange’s dry bulk index fell Tuesday, offsetting strong demand for small vessels as cape-type freight hovered near a three-year low.
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The overall dry bulk index fell 6 points, or 0.9%, to 663.
The Cape index fell 56 points, or 15.8%, to 299, its lowest level since the end of March 2016. Average daily profit decreased by $362 to $4,535. The normal carrying capacity of this type of ship is between 170,000 tons and 180,000 tons, carrying cargo such as iron ore and coal.
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The Panamanian Ship Price Index rose 24 points, or 2.7%, to 924, the highest level in six weeks. Average daily profit climbed $187 to $7,436. The normal carrying capacity of this type of ship is between 60,000 and 70,000 tons, and the cargo is usually coal or grain.
The super-handy index rose 9 points, or 1.2%, to 776.
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