Baltic Index Down for Eighth Session

The Baltic Exchange's main sea freight index fell for an eighth straight session on Wednesday, due to weaker demand for capesize vessels.

* The overall index, which tracks rates for ships carrying dry bulk commodities, fell 14 points, or 1.1 percent, to 1,309 points.

* The capesize index fell 44 points, or 2.2 percent, to 1,942 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell by $272 to $16,070.

* The panamax index snapped an eight-day losing streak and rose three points, or 0.2 percent, to 1,324 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $19 to $10,642.

* The supramax index was down 11 points at 1,067 points.

Reporting by Nallur Sethuraman in Bengaluru