March 1 (Reuters) – The Baltic Exchange’s main sea freight index dipped to its lowest since mid-February on Monday as rates for the larger capesize segment fell for the eighth straight session.
* The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, fell 24 points, or 1.4%, to 1,651.
* The capesize index, was down 31 points, or 2.2%, at 1,408, a two-week low.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dropped $255 to $11,679
* Chinese coking coal futures slumped more than 6% on Monday to their lowest in three months as stable output and imports eased supply worries, while demand for the ingredient appeared promising on strong steel production.
* The panamax index fell 54 points, or 2.5% to 2,086.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, lost $481 to $18,775.
* The supramax index edged up one point to 1,879, its highest level, as per Refinitiv Eikon records going back to April 2017. (Reporting by Bharat Govind Gautam in Bengaluru; Editing by Ramakrishnan M.)
