The Baltic Exchange’s main sea freight index fell on Friday weighed by weaker capesize demand, but the index ended the week up 2% on higher rates across the panamax and supramax segments.

The Baltic index, which reflects rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, dropped by 17 points, or 1.1%, to 1,558 points, its lowest since Nov. 29.

The index gained 2% this week, registering its second consecutive week of gains.

The capesize index was down 52 points, or 1.6%, at 3,273 points, marking its second straight session of losses.

However the index extended gains for a second week.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $525 to $23,704.

The panamax index rose 11 points, or about 0.8% to 1,347 points, registering its eighth straight session of gains.

The panamax index gained 10% this week, marking its biggest weekly rise since Oct. 11.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $90 to $10,794.

The supramax index edged four points higher to 835 points, registering its 13th consecutive session of gains.
Source: Reuters (Reporting by Anjishnu Mondal in Bengaluru; Editing by Amy Caren Daniel)