October 14, 2019 / 1:25 PM / a month ago

Baltic index edges lower as capesize rates slip

Oct 14 (Reuters) - The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, inched lower on Monday on weaker capesize vessel rates.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 8 points, or 0.4%, to 1,916.

* The capesize index dropped 36 points, or 1.1%, to 3,254.

* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $317 to $26,065.

* The panamax index gained 12 points, or 0.6%, to 1,928, posting its seventh consecutive gain.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $100 to $15,455.

* The supramax index was up 5 points at 1,223. (Reporting by Nakul Iyer in Bengaluru)

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