Baltic Sea Freight Index Down
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a ninth straight session on Friday on lower vessel activity.
The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 30 points, or 2.43 percent, to 1,205.
The Baltic's capesize index fell 37 points, or 1.58 percent, to 2,306 points.
Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $533 to $16,451. Capesize rates fell about 16 percent this week.
The panamax index fell 14 points, or 1.67 percent, to 822 points.
Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 metric tons, were down $114 to $6,631. Panamax rates fell about 13 percent this week.
(Reporting by NR Sethuraman in Bangalore, editing by David Evans)