July 7, 2020 / 1:49 PM / a month ago

Baltic index snaps 4-week winning streak as lower capesize rates weigh

July 7 (Reuters) - The Baltic Exchange's main sea freight index inched down on Tuesday, snapping a 27-session winning streak, as capesize vessel rates fell for the second straight session and offset gains in panamax and supramax segments.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 7 points, or 0.4%, to 1,949.

* The Baltic capesize index lost 103 points, or 2.5%, to 3,968, hitting its lowest since June 22.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, fell by $849 to $32,911.

* However, rising demand for iron ore from China, after the economy opened up from months of virus-led lockdown, has helped the capesize index gain 109% so far this year.

* The panamax index rose 5.9%, or 81 points, to 1,457.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $726 to $13,113.

* The supramax index rose 17 points to 725. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Ramakrishnan M.)

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