Baltic Index Down for 12th Straight Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for a 12th straight session on Wednesday as rates fell across vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, closed down 22 points, or 2.44 percent, at 878 points - its lowest level since March 1.
The capesize index fell 53 points, or 3.39 percent, to 1,511 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $431 at $11,053.
The panamax index was down 13 points, or 1.54 percent, to end at 829 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $106 to $6,658.
Among smaller vessels, the supramax index fell 14 points to 698 points, while the handysize index fell 6 points to 455 points.
Reporting by Nithin Prasad
