Baltic index falls on weaker rates for large vessels

The Baltic Exchange's dry bulk sea freight index fell on Tuesday on weaker rates for large vessels.

The main index was down 23 points, or 1.2 per cent, at 1,952.

The Capesize index lost 71 points, or 1.9 per cent, to 3,660. Average daily earnings for Capesize vessels decreased by $587 to $30,357.

Dalian iron ore was little changed on Tuesday as traders assessed mixed macroeconomic data and resilient steel demand from top consumer China.

The Panamax index fell four points, or 0.3 per cent, to 1,406. Average daily earnings for Panamax vessels lost $42 to $12,652.

Among smaller vessels, the supramax index gained six points to 945, a near two-week high.

(Reporting by Anushree Mukherjee in Bengaluru; Editing by Vijay Kishore)