Weaker demand pulls Baltic index to one-week low

The Baltic Exchange's dry bulk sea freight index fell to an over one-week low on Tuesday, as rates declined for all vessel segments.

The main index fell by 38 points to 1,986 points, hitting its lowest level since August 22.

The Capesize index shed 75 points to 2,874 points. Average daily earnings for Capesize vessels decreased by $619 to $23,836.

Prices of iron ore futures drifted higher after falling to a one-week low in the previous session, aided by hopes of a demand recovery after the end of top consumer China's military parade.

The Panamax index shed 49 points, or 2.7 per cent to 1,764 points. Average daily earnings for Panamax vessels fell by $437 to $15,876.

Among smaller vessels, the supramax index was down one point to 1,466 points, snapping a 20-session win run.

Workers began a three-day strike over pay at Belgian gas terminal operator Fluxys' Dunkirk liquefied natural gas terminal late on Monday evening, part of a broader action in the power and gas sector focused on pensions and wages.

(Reporting by Noel John in Bengaluru Editing by Frances Kerry)