Baltic Index Down on Weak Vessel Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday on lower vessel rates.
The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell six points to 595 points.
The capesize index was up seven points at 558 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $81 to $4,515.
The panamax index was down 12 points, or 1.75 percent, at 673 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, were down $99 at $5,358.
The handysize index and supramax index were down one point at 345 points and 627 points, respectively.
(Reporting By Nallur Sethuraman in Bengaluru)
