The Baltic Dry Index falls to more than a two-week low

The Baltic Dry Index fell to a more than two-week low on Thursday, dragged down by a decrease in Capesize ship rates. The Baltic Dry Index dropped 58 points, or 4.2%, to 1316 points, its lowest level since April 23. The Capesize ship rate index fell 183 points, or 9.46%, to 1752 points, also a more than two-week low. Average daily earnings for Capesize ships decreased by $1518 to $14532. The Panamax ship rate index rose by 1 point to 1363 points. Average daily earnings for Panamax ships increased by $12 to $12269. The Supramax ship rate index rose by 7 points to 968 points.