Baltic Index Slips as Capesize Slump Spoils Smaller Vessel Gains

The Baltic Exchange's dry bulk freight index fell on Wednesday as weaker Capesize rates outweighed gains in the Panamax and supramax segments.

The main Baltic index fell eight points, or 0.3 per cent, to 2,994 points, its lowest level since August 25.

The Capesize index fell 41 points, or 0.9 per cent, to 4,597 points, its lowest level since August 21.

Average daily earnings for Capesize vessels fell $373 to $38,188.

The Panamax index gained 18 points, or 0.8 per cent, to reach 2,384 points.

Average daily earnings for Panamax vessels rose $162 to $21,456.

Among smaller vessels, the supramax index increased five points, or 0.3 per cent, to 1,800 points.

(Reporting by Vedika Thorat in Bengaluru; Editing by Jonathan Ananda)