January 18, 2018 / 3:17 PM / 3 months ago

Easing capesize rates continue to weigh on Baltic index

Jan 18 (Reuters) - The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, as capesize rates dropped to its lowest since August.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, shed 25 points, or 2.15 percent, to close at 1,139 points, the lowest since Aug. 11.

* Baltic index was down for the seventh-straight session.

* The capesize index fell 132 points, or 7.57 percent, to a more-than-five-months low of 1,611 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $863 to $12,312 - lowest since Aug 2.

* The panamax index slipped 6 points, or 0.46 percent, to close at 1,311 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, eased $48 to $10,517.

* Among smaller vessels, the supramax index remained flat at 910 points, while the handysize index shed 1 point to 580 points. (Reporting by Sumita Layek in Bengaluru; Editing by Arun Koyyur)

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