Baltic index logs weekly fall as capesize dips

LONDON : The Baltic Exchange’s main sea freight index fell on Friday, marking its first weekly decline in three, as the capesize segment dipped.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 13 points to 1,928 points. The index dropped to its lowest level since Sept. 18.

The capesize index dipped 56 points to 3,243 and touched a near two-week low. The index also posted a weekly decline.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $466 to $26,897.

The panamax index was up 21 points at 1,388.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, increased $194 to $12,496.

Among smaller vessels, the supramax index dropped 2 points to 1,258.