Dry Bulk: Capesize, Panamax Rates Dip
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize and panamax vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 41 points, or 2.3 percent, at 1,732 points.
The capesize index slipped 104 points, or 2.8 percent, to 3,550 points.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased $844 to $26,439.
The panamax index fell 34 points, or 2.4 percent, to 1,386 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were down $268 at $11,094.
The supramax index inched 2 points, or 0.2 percent, higher to 1,032 points.
(Reporting by Karen Rodrigues in Bengaluru; Editing by Maju Samuel)