Baltic Index Falls for Third Straight Day

The Baltic Exchange's main sea freight index fell on Monday for the third consecutive day, as lower demand for ships across segments eased rates.

The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 40 points, or 1.6%, to 2,442 points.

The capesize index dropped 105 points, or 2.1%, to 4,844 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $800 to $36,121.

The panamax index fell 25 points, or 1.1%, to 2,191 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $199 to $17,556.

The supramax index edged down 8 points to 1,330.

Reporting by Anjishnu Mondal