Baltic Index Falls on Weaker Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points, or 0.96 percent, at 618 points.
The capesize index fell 22 points, or 2.53 percent, at 848 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $220 to $6,726.
The panamax index was down three points, or 0.49 percent, at 608 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $28 to $4,857.
Among smaller vessels, the supramax index rose three points to 568 points, while the handysize index rose one point to 345 points.
(Reporting by Nithin Prasad in Bengaluru)
