July 29, 2019 / 1:05 PM / a month ago

Baltic index dips on easing panamax rates

July 29 (Reuters) - The Baltic Exchange’s main sea freight index fell to a more than two-week low on Monday, weighed down by weaker rates for panamax vessels.

* The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.8%, or 15 points, to 1,922 points, its lowest since July 12.

* The capesize index rose 13 points, or 0.4%, to 3,660 points.

* Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $72 to $27,217.

* The panamax index fell 59 points, or nearly 3%, to its lowest in two weeks at 2,050 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $470 to $16,399.

* The supramax index fell 9 points to 996 points. (Reporting by Eileen Soreng in Bengaluru; Editing by Maju Samuel)

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