The Baltic Exchange's main sea freight index, which measures rates for ships carrying dry bulk commodities, edged lower on Tuesday, as rates declined across capesize and panamax vessel segments.
* The main index, which tracks rates for capesize, panamax and supramax shipping vessels, fell 21 points, or 1%, to 2,017 points.
* The capesize index was down 56 points, or 1.7%, at 3,261.
* Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, fell $458 to $27,048.
* Iron ore futures rose after steel mills in Chinese production hub Tangshan were ordered to halt operations to improve air quality ahead of a major military parade, while lower shipments also lent support to prices.
* Among smaller vessels, the supramax index added 4 points, or 0.3%, to 1,329. The index registered its eighth straight session of gains.
* The panamax index extended losses for the third straight session and was down 19 points, or 1.2%, at 1,595. The index was at its lowest level since July 8.
* Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, fell $170 to $14,359.
* Elsewhere, a Liberian-flagged oil tanker that had been detained by Iraq's navy has been released and is en route to the United Arab Emirates, two sources familiar with the matter told Reuters.
(Reuters)
