May 12 (Reuters) - The Baltic Exchange's main sea
freight index , which tracks rates for ships carrying dry
bulk commodities, fell on Friday as demand slowed across all
vessel segments with panamaxes extending losing streak for a
fifth week in a row.
* The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, dropped 50 points, or
about 3.1%, to 1,558 — its biggest one-day percentage fall since
mid-April.
* The capesize index fell 110 points, or 4.3%, to
2,456. The index, however, gained 3% for the week to mark a rise
for a fourth week straight.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes carrying commodities
such as iron ore and coal, fell by $909 to $20,367.
* Iron ore futures fell, as traders worried about a dim
demand outlook in top steel producer and metals consumer China
assessed the prospects of additional stimulus for the world's
second-biggest economy.
* The panamax index lost 43 points, or about 3%, to
1,402 — its lowest since Feb. 27. The index was down 6.6% for
the week.
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, declined by $390 to $12,619.
* Among smaller vessels, the supramax index lost 7
points to 1,105.
(Reporting by Ananya Bajpai in Bengaluru; Editing by Shweta
Agarwal)
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