October 18, 2019 / 1:10 PM / a month ago

Baltic index edges lower on slipping vessel rates

Oct 18 (Reuters) - The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses for a sixth consecutive session on Friday, on weak demand across all vessel segments.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, dropped 6 points, or 0.3%, to 1,855.

* The overall index posted its fifth weekly loss in six, closing 3.6% lower.

* The capesize index was down by 17 points, or 0.6%, at 3,064, falling for a sixth straight session.

* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, inched lower by $6 to $25,117.

* The panamax index dipped by 21 points, or 1.1%, to 1,840, touching an over one-week low.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonne to 70,000 tonne, dropped $172 to $14,751.

* The supramax index edged lower by 2 points to 1,222. (Reporting by Nakul Iyer in Bengaluru; Editing by Shailesh Kuber)

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