January 28, 2020 / 2:31 PM / 2 months ago

Baltic index falls to a near 4-year low on weak vessel rates

Jan 28 (Reuters) - The Baltic Exchange's main sea freight index fell to its lowest level in nearly four years, weighed down by lower rates across vessel segments.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped 7 points, or 1.3%, to 539, its lowest since April 2016.

* The capesize index fell 6 points, or 4.4%, to 129, falling for the 33rd straight session.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, fell $1 to $4,631.

* The panamax index fell 22 points, or 3.3%, to 651, hitting its lowest in almost a year.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dropped $193 to $5,861.

* The supramax index shed 4 points to 538. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Vinay Dwivedi)

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