Baltic Index Ends Slightly Lower as Panamax Demand Slips

The Baltic Exchange's main sea freight index edged lower on Monday, after rising for the previous four sessions, as demand for panamax vessels faltered.

* The overall index, which tracks rates for ships carrying dry bulk commodities, dipped 3 points, or 0.21 percent, to 1,442 points.

* The index, which factors in rates for capesize, panamax and supramax shipping vessels, hit a one-month high of 1,445 points on Friday.

* The panamax index fell 13 points, or 0.87 percent, to 1,482 points, its biggest one-day percentage fall this month.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $96 to $11,911.

* The capesize index gained 5 points, or 0.23 percent, to 2,228 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, slipped $11 to $18,233.

* The supramax index inched up one point to 1,092 points.

Reporting by Swati Verma in Bengaluru