Ports and Shipping - WORLDWIDE SHIPPING INDUSTRY - Baltic index falls on softer capesize demand.
Byline: S. Kamal Hayder Kazmi
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday, weighed down by lower demand for capesize vessels. The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 51 points, or 2.9percent, to 1,731. The capesize index was down by 100 points, or 3.2percent to 2,978 points, its lowest in a week. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron...
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