Feb 2 (Reuters) - The Baltic Exchange's dry bulk sea
freight index dropped to its lowest level in more than
two years on Thursday, pressured by slowing demand for capesize
and panamax vessel segments.
* The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels carrying dry bulk
commodities, fell 28 points, or 4.2%, to 640, its lowest since
June 4, 2020.
* The capesize index dropped 54 points, or about
10.8%, to its lowest in more than five months at 445.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes of coal and
steel-making ingredient iron ore, decreased $449 to $3,688.
* Iron ore futures fell to a two-week low as traders
reassessed demand prospects in key consumer China, despite
expectations for more policy stimulus to support the country's
economic rebound.
* The panamax index lost 41 points, or about 4%, to
988, its lowest since June 16, 2020.
* Average daily earnings for panamax vessels , which
usually carry coal or grain cargoes of about 60,000 tonnes to
70,000 tonnes, increased by $368 to $8,894.
* Among smaller vessels, the supramax index rose 4
points, or about 0.6%, to 684.
(Reporting by Ananya Bajpai in Bengaluru
Editing by Vinay Dwivedi)
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