Baltic index slips on weaker capesize rates

Aug 28 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday due to weaker capesize rates.

The main index .BADI, which tracks rates for capesize, panamax and supramax shipping vessels, slipped 29 points, or 1.4%, to 2,017 points.

The capesize index .BACI was down 105 points, or 3.5%, at 2,884 points.

Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, dropped by $868 to $23,918.

Prices of iron ore futures hit a two-week high on Thursday, bolstered by China's push to lower steel output as it tackles overcapacity. IRONORE/

The panamax index .BPNI was unchanged at 1,874 points.

Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, also remained stagnant at $16,865.

Among smaller vessels, the supramax index .BSIS added 14 points, or 0.97%, to 1,461 points, its highest level since May 2024.