November 20, 2018 / 1:43 PM / 23 days ago

Weaker demand for vessels sends Baltic index to over 7-month low

Nov 20 (Reuters) - The Baltic Exchange’s main sea freight index, tracking rates for ships transporting dry bulk commodities, fell on Tuesday, weighed down by weaker demand across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped for second straight session, shedding 20 points, or 2 percent, to 1,003 points, its lowest since April 12.

* The capesize index lost 4.6 percent, or 48 points, to 1,002 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $381 to $8,341.

* The panamax index fell for the fifth consecutive day, easing 21 points, or 1.5 percent, to 1,416 points, its lowest since Aug. 15.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $169 to $11,328.

* The supramax index lost 1 point to 963 points. (Reporting by Brijesh Patel in Bengaluru)

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