The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, fell to a more than two-week low on Monday, weighed down by lower rates across the large vessel segments.

* The main index BDI, which tracks rates for capesize, panamax and supramax shipping vessels, fell 48 points, or 2.38%, to 1,970 points, its lowest since July 16.

* The capesize index (.BACI) slipped 138 points, or 4.2%, to 3,158.

* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, shed $1,144 to $26,187.

* Iron ore futures prices climbed, helped by firm near-term demand, falling portside stocks and healthy steel margins in top consumer China, although expectations of rising supply capped further gains.

* The panamax index (.BPNI) lost 11 points, or 0.7%, to 1,633, a near four-week low.

* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, were down by $102 to $14,696.

* Among smaller vessels, the supramax index (.BSIS) was up 1 point, or 0.08%, at 1,270.
Source: Reuters