Baltic Index Falls for Third Straight Day

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight day on Thursday due to weaker rates for larger vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 10 points, or 1.36 percent, at 726 points.

The capesize index fell 31 points, or 3.31 percent, to 906 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $227 at $6,632.

The panamax index was down 22 points, or 2.52 percent, at 850 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000-70,000 tonnes, decreased $171 to $6,801.

Among smaller vessels, the supramax index fell 1 point to 701 points, while the handysize index rose 3 points to 379 points. (Reporting by Karen Rodrigues