The Baltic Exchange's main sea freight index experienced a third consecutive session of decline, dropping 2.3% to 1,755 points. Capesize vessels faced a significant loss of 6.6%, reaching a two-week low at 2,415 points, with average daily earnings falling to $20,029. In contrast, panamax vessel rates rose, reaching a one-year high, while supramax vessels also saw gains. The shipping dynamics were influenced by heightened activity in the Atlantic and congestion in the East Coast South America region. Meanwhile, concerns arise about Ukraine's wheat production meeting demand due to potential blockades and attacks on Black Sea export routes.

SOURCE: GOOGLE