Baltic index falls on lower rates across vessel segments

The Baltic Exchange’s main sea freight index hit a more than one-month low on Friday, as rates dropped across all vessel segments.

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 71 points, or 5.1%, to 1,317, its lowest since June 17.

The Baltic capesize index slipped 152 points, or 6.8%, to 2,084, its lowest in over a month.

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, declined by $1,258 to $17,284.

The panamax index dropped 65 points, or about 5.1%, to 1,198.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dipped by $577 to $10,786.

The supramax index was down 10 points at 915, snapping an 18-session rally.
Source: Reuters (Reporting by Diptendu Lahiri in Bengaluru; Editing by Amy Caren Daniel)