Baltic index falls for third session on weaker rates for all vessels

The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, fell on Thursday for the third straight session on sliding rates across all vessel segments.

The Baltic dry index was down 30 points, or 2.5%, at 1,194.

The capesize index fell 62 points, or 3.5%, to 1,709.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dipped $514 to $14,177.

The panamax index was down 22 points, or 1.8%, at 1,209.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $195 to $10,880.

The supramax index eased 10 points to 912.
Source: Reuters (Reporting by Asha Sistla in Bengaluru; Editing by Ramakrishnan M.)