Baltic Sea Freight Index Down as Capesize, Panamax Earnings Fall

By MarEx 2013-07-05 09:09:00

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped on Thursday as earnings of both capesizes and panamaxes fell. * The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell four points, or 0.36 percent, to 1,099. The index has fallen 6.55 percent since last Friday.

* The Baltic's capesize index was down seven points, or 0.36 percent, to 1,929 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dropped $26 or 0.20 percent 12,737.

* The panamax index lost four points, or 0.40 percent, to 1,008 points.

* Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grains, were down $37 or 0.46 percent to $8,013.

Reporting by Shruti Chaturvedi in Bangalore; editing by James Jukwey (C) Reuters 2013.