Baltic index dips on weaker demand for larger vessels

Feb 16 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) slipped on Wednesday as lower rates for capesize and panamax vessels outweighed gains in the supramax segment.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, was down 72 points, or nearly 3.7%, at 1,896, the lowest since Feb. 10.

* The capesize index (.BACI) dipped 237 points, or 13.8%, to a one-week low of 1,476.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell by $1,970 to $12,239.

* The panamax index (.BPNI) eased 25 points, or 1%, to 2,375.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, fell by $227 to $21,374.

* The supramax index (.BSIS) was up 43 points to 2,320.

Reporting by Seher Dareen in Bengaluru; Editing by Maju Samuel

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