The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31.
The Baltic Exchange's main sea freight index fell to a more than two-week low on Monday, weighed down by weaker rates for panamax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.8%, or 15 points, to 1,922 points, its lowest since July 12. Nevertheless, the capesize index rose 13 points, or 0.4%, to 3,660 points.
There is a 65 percent chance of an El Niño weather pattern emerging during the northern hemisphere spring this year, a U.S. government weather forecaster said on Thursday."However, given the timing and that a weak event is favored, significant global impacts are not anticipated during the remainder of winter, even if conditions were to form