December 18, 2019 / 2:53 PM / a month ago

Baltic index drops to near 6-month low on weaker vessel demand

Dec 18 (Reuters) - The Baltic Exchange’s main sea freight index declined for an 11th consecutive session on Wednesday, and nearly touched a six-month low, pressured by falling rates across all vessel segments.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, slipped 60 points, or 4.7%, to 1,221, its lowest level since June 21.

* The capesize index fell 137 points, or 6.1%, to 2,103, its lowest level since June 20.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, dropped $871 to $15,695.

* The panamax index was down 81 points, or 5.7%, at 1,340, marking its biggest percentage fall in over ten months.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $653 to $10,730.

* The supramax index fell 17 points to 785. (Reporting by Anjishnu Mondal in Bengaluru; Editing by Amy Caren Daniel)

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