Baltic index falls over one-month low on weak capesize rates
Adds comment in graph 4,5
Oct 8 (Reuters) -The Baltic Exchange's main sea freight index .BADI declined to a more than one-month low on Tuesday, pressured by falling capesize vessel rates.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 47 points to 1,860 points. The index hit its lowest since late August.
* The capesize index .BACI dipped 172 points to 2,989 points and also hit its lowest in more than a month.
* "The Baltic Dry Index has been declining due to a decrease in the capesize index. It seems that the Golden Week holidays in China have negatively impacted cargo loadings on capesize ships," said Filipe Gouveia, shipping analyst at BIMCO.
* "The drop in cargo loadings is large even for Golden Week and it has likely been pressuring freight rates for capesize ships."
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $1,427 to $24,786.
* The panamax index .BPNI was up 26 points at 1,441 points.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, increased $236 to $12,969.
* Prices of iron ore futures rode a roller coaster on Tuesday as some investors unwound long positions to lock in profits, with some analysts saying top consumer China missed expectations for unveiling more forceful stimulus measures at a presser. IRONORE/
* Among smaller vessels, the supramax index .BSIS was up 7 points to 1,264.
Reporting by Rahul Paswan in Bengaluru; Editing by Tasim Zahid
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