Baltic index at near 1-month low as capesize, panamax rates fall
July 21 (Reuters) - The Baltic Exchange's main sea freight index fell on Tuesday, weighed by lower rates for capesize and panamax vessel segments.
* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 84 points, or about 5%, to 1,594, its lowest in nearly a month.
* The Baltic capesize index dropped 221 points, or 7.5%, to 2,729, registering its lowest level since June 17.
* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, was down by $1,834 at $22,635.
* However, rising demand for iron ore from China has helped the capesize segment to gain nearly 40% this year.
* The panamax index was down 50 points, or 3.4%, at 1,415, its lowest in more than two weeks.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $452 to $12,736.
* However, the supramax index rose 9 points, or 1%, to 929. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Amy Caren Daniel)
