March 17, 2020 / 3:23 PM / 2 months ago

Baltic index falls on softer panamax demand

March 17 (Reuters) - The Baltic Exchange's main sea freight index dipped on Tuesday, weighed down by a fall in rates for panamax vessels, which registered its seventh straight day of decline.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, declined 11 points, or 1.8%, to 612

* The panamax index dropped 40 points, or 4.1%, to 930.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes-70,000 tonnes, fell $365 to $8,367.

* The capesize index inched up by 4 points to a three-week high of -289 - its highest since Feb. 25.

* Average daily earnings for capesizes, which typically transport 170,000 tonnes-180,000 tonnes cargoes including iron ore and coal, rose by $5 to $2,800.

* The supramax index was unchanged at 754. (Reporting by Nakul Iyer in Bengaluru; Editing by Krishna Chandra Eluri)

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