Baltic index extends losses on weaker capesize, supramax rates
Dec 19 (Reuters) -The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, extended losses to a 17-month low on Thursday, dragged down by weaker rates across capesize and supramax vessel segments.
* The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 52 points to 976 points, hitting its lowest level since July 2023.
* The capesize index .BACI dropped 158 points to 1,079 points, hitting its lowest level since Sept. 2023.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $1,316 to $8,945.
* Iron ore futures prices fell on Thursday to their lowest in nearly a month, as concerns about demand prospects in top consumer China and the U.S. Federal Reserve's outlook for interest rate cuts next year weighed on sentiment. IRONORE/
* The panamax index .BPNI edged up 7 points to 964 points.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $65 to $8,681.
* Among smaller vessels, the supramax index .BSIS was down 3 points at 944 points, its lowest level since August last year.
Reporting by Anmol Choubey in Bengaluru; Editing by Tasim Zahid
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