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Lower Vessel Rates Pull Down Baltic Sea Freight Index

Maritime Activity Reports, Inc.

April 7, 2015

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on lower vessel rates.

The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped five points, or 0.85 percent, to 583 points.

The capesize index fell six points to 448 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $68 to $4,150.

The panamax index shed five points to 584 points.

Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, decreased by $43 to $4,665.

The handysize index fell one point to 385 points and the supramax index was down five points at 631 points. Handysize and supramax are smaller than capesize and panamax vessels.

Reporting by Arpan Varghese in Bengaluru

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