Baltic Index Down as Small Vessel Demand Weakens
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell Tuesday on weaker demand for smaller vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point, or 0.16 percent, at 608 points.
The capesize index gained four points, or 0.39 percent, at 1,018 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $55 to $7,329.
The panamax index was up one point, or 0.18 percent, at 543 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $7 to $4,334.
Among smaller vessels, the supramax index fell two points to 552 points, while the handysize index fell five points to 317 points.
Reporting by Nithin Prasad in Bengaluru