The Baltic Exchange’s main sea freight index dropped on Wednesday, pressured by a dip in capesize and panamax vessel rates.

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 26 points, or 1.8%, to 1,445.

The capesize index dipped by 49 points, or 2.3%, to 2,127.

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $406 to $17,638.

The panamax index edged 36 points lower to 1,568.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, were down by $326 at $14,113.

The supramax index inched up by a point to 959.

Source: Reuters