Baltic Index Slides to 9-Month Low
The Baltic Exchange's main sea freight index declined to its lowest in nine months on Monday, weighed down by shrinking demand across all vessel categories.
*The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, decreased 9 points, or 1.2%, to 765 points.
* The Baltic index has fallen for 22 out of the previous 23 sessions, declining to its lowest since mid-April.
* The capesize index fell 62 points, or 5.8%, to 1,004 - its lowest since April 29.
* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, slipped $116 to $9,322.
* The panamax index fell 12 points, or 1.6%, to 759 points, its lowest since end-February.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dipped $105 to $6,834.
* The supramax index eased 4 points to 566.
(Reporting by Anjishnu Mondal in Bengaluru; Editing by Maju Samuel)