The Baltic Exchange’s dry bulk sea freight index (.BADI) posted a second straight weekly fall, weighed down by weaker demand for capesize vessels, which slipped to their lowest in nearly three weeks.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, was down 18 points, or about 1%, at 1,819.

The main index was down about 1% for the week.

The capesize index (.BACI) lost 40 points, or about 1.9%, to 2,071. It was down about 4.4% for the week, its second weekly fall.

Average daily earnings for capesizes (.BATCA), which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore used in construction, fell $330 to $17,175.

Benchmark iron ore market was on track for a sixth straight weekly fall on worries about global demand prospects.

The panamax index (.BPNI) lost 17 points, or about 0.8%, to 2,144, but was up about 3% this week.

Average daily earnings for panamaxes (.BPWT), which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, dropped $155 to $19,293.

The supramax index (.BSIS) rose 2 points to 1,678.

Source: Reuters