Titanium Media App reported on August 31 that the Baltic dry bulk freight index fell on Wednesday and recorded its largest monthly decline in more than two years, due to poor market demand for various ship types. The Baltic Dry Index fell 52 points, or 5.1%, to 965 points, the lowest in more than two years; the monthly decline recorded a nearly 50% decline, the largest monthly decline since January 2020 and the third consecutive month fell. The capesize index fell 35 points or 10.4% to a more than two-year low of 302 points; the monthly index fell 86%, the largest monthly decline since May 2020. Average daily earnings for capesize vessels fell by $288 to $2,505. The panamax freight index fell 67 points or 5.2% to a 21-month low of 1217 points, which has been falling for more than a month; it recorded a monthly decline of 41%, the largest monthly decline since January 2020. Average daily earnings for panamax vessels fell $600 to $10,956. The Supramax index fell 65 points to 1,626, its worst performance in 10 months.
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