Baltic Dry Index Continues Skid

[Sherman A1]

The Baltic Exchange's dry bulk sea freight index slipped for a 13th straight session on Monday, as capesize rates hit their lowest level in more than two-months.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 24 points, or about 1.2%, to 2,031 points, its lowest since Feb. 18.

The capesize index slipped 49 points, or 3.4%, to 1,395 points, its lowest level since early February.

Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, decreased by $413 to $11,566.

https://www.marinelink.com/news/baltic-dry-index-continues-skid-495713

[rurallib]

1. so what does this indicate?

[Sherman A1]

2. Shipping rates are declining