Baltic index falls as Capesize segment declines

The Baltic Exchange's dry bulk sea freight index fell on Wednesday, as lower rates in the Capesize segment overshadowed gains in the Panamax and supramax segments.

The main index, which monitors rates for Capesize, Panamax and supramax shipping vessels, lost 32 points to 1,374.

The Capesize index fell by 102 points to 1,935. Average daily earnings for Capesize vessels decreased by $847 to $16,050.

Meanwhile, the Panamax index added two points to 1,362. Average daily earnings for Panamax vessels was up $19 to $12,257.

Among smaller vessels, the supramax index added four points to 961.

"The United States remains a vital hub in the global dry bulk trade, with its ports especially those along the Gulf Coast, East Coast, and Great Lakes processing significant volumes of coal, grain, and iron ore," shipbroker Allied said in a weekly note dated Monday.

(Reporting by Anjana Anil in Bengaluru; Editing by Vijay Kishore)