Baltic Sea Freight Index Falls on Muted Vessel Activity
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday due to muted vessel activity.
The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped three points, or 0.51 percent, to 580 points.
The capesize index rose two points to 450 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $10 to $4,140.
The panamax index rose one point to 585 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, rose $7 to $4,672.
The handysize index fell three points to 382 points and the supramax index was down seven points at 624 points. Handysize and supramax vessels are smaller than capesizes and panamaxes.
(Reporting By Nallur Sethuraman in Bengaluru; Editing by Pravin Char)
