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Freight

Baltic index falls to over 1-month low as rates dip across vessels

Sept 7 (Reuters) – The Baltic Exchange’s main sea freight index fell to its lowest in more than a month on Monday, as rates slipped across vessel segments.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, fell 13 points, or nearly 1%, to 1,349.

* The capesize index dropped by 18 points, or 0.9%, to 1,942.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, fell $150 to $16,102.

* China’s iron ore imports in August fell 10.9% from a month earlier, as big miners cut back on shipments amid port congestion.

* The world’s top iron ore consumer brought in 100.36 million tonnes of iron ore last month, the data from the General Administration of Customs showed.

* The panamax index was down 24 points, or 1.6%, at 1,449.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $220 to $13,040.

* The supramax index shed 4 points to 949. (Reporting by Arundhati Sarkar in Bengaluru, editing by Ed Osmond)

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