Baltic Index Touches 10-Week Low
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to its lowest in ten weeks, dragged down by weaker capesize vessel rates.
* The overall index, which factors in rates for capesize, panamax and supramax vessels, fell 43 points, or 2.9 percent, to 1,439 points, its lowest since July 2.
* The capesize index lost 172 points, or 7.3 percent, to touch a 10-week low of 2,191 points.
* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased $1,132 to $17,237.
* The panamax index rose 12 points, or 0.8 percent, to 1,556 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $96 to $12,474.
* The supramax index slipped a point to 1,135 points.
Reporting by Arijit Bose in Bengaluru