The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, inched down on Friday, weighed down by lower rates for capesize and panamax vessels.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 3 points, or 0.2 percent, at 1,691 points.
* The index marked its biggest weekly decline in seven weeks, having fallen about 4.6 percent for the week.
* The panamax index was down 10 points, or 0.7 percent, at 1,339 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $78 to $10,724.
* The capesize index rose 8 points, or 0.2 percent, at 3,480 points.
* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $46 to $25,621.
* The supramax index rose 3 points to 1,039 points.
Reporting by Vijaykumar Vedala in Bengaluru