Baltic Index Down For Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday for a third straight session as rates for capesizes continued to decline.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 20 points, or 1.5 percent, at 1,341 points.

* The capesize index also fell a third consecutive session and lost 78 points, or 3.5 percent, at 2,173 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $537 to $17,176.

* The panamax index was up one point, or 0.078 percent, at 1,276 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $11 to $10,261.

* The supramax index rose three points to 1,045 points.

Reporting by Nithin Prasad in Bengaluru