Baltic Index Touches 7-wk Low

Baltic Exchange's main sea freight index, which tracks rates for ships transporting dry bulk commodities, fell on Friday to its lowest in seven weeks, on weaker demand for capesize and panamax vessels.

* The overall index, which factors in rates for capesize, panamax and supramax vessels fell for its seventh straight session, shedding 35 points, or 2.2 percent, to 1,579 points.

* The index registered a decline of about 7 percent, its second consecutive weekly drop.

* The capesize index dropped to its lowest since July 3, falling by 94 points, or 3.3 percent to 2,732 points.

* The index has fallen 13.7 percent in the week.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased $683 to $20,671.

* The panamax index lost 37 points, or 2.3 percent, to touch 1,571 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $294 to $12,582.

* The supramax index rose 4 points to 1,132 points.

Reporting by Arijit Bose in Bengaluru