Baltic index falls to more than two-month low on weaker vessel rates
Oct 16 (Reuters) -The Baltic Exchange's main sea freight index extended its fall to the lowest in more than two months on Wednesday as rates for all vessel segments declined.
* The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 90 points to 1,676 points. The index hit its lowest since Aug. 13.
* The capesize index .BACI fell 221 points to 2,552 points. The index also hit its lowest in two months.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $1,833 to $21,161.
* Iron ore futures prices fell on Wednesday, as prospects of firmer global supply and softer Chinese demand overshadowed stronger trade data from the top consumer. IRONORE/
* "The market might have hoped for a more active week after China’s Golden Week, but things remained slow. All regions were weak," shipbroker Allied said in a weekly note dated Tuesday.
* The panamax index .BPNI dropped 55 points to 1,309 points.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, fell by $492 to $11,785.
* Among smaller vessels, the supramax index .BSIS shed 3 points to 1,257.
Reporting by Rahul Paswan in Bengaluru; Editing by Mrigank Dhaniwala
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