SB - Baltic Dry Index extends losses as rates drop across vessel segments

The Baltic Exchange's dry bulk sea freight index posts its fifth straight decline to its lowest since June 8, with rates falling for both capesize and panamax vessels. The Baltic Dry Index (BDIY: IND) closed -6.2%, following yesterday's 6.1% slide, to 2,430 points, with the capesize index sinking 9.4% to a six-month low 3,064 and the panamax index slumping 7.5% to a seven-month low 2,475. Average daily earnings for capesizes, which transport 150K-ton cargoes such as iron ore and coal, fell $2,653 to $25,406, while average daily earnings for panamaxes, which ferry 60K-70K-ton coal or grain cargoes, fell $1,795 to $22,277; supramax dayrates were little changed at $24,863. Relevant stocks, which fell broadly yesterday, post mixed results today: DSX -6.9%, ESEA -3.3%, NMM -2%, SB -0.7%, MATX -0.7%, GSL -0.5%, CMRE +0.1%, EGLE +0.1%, ATCO +0.3%, OTCPK:AMKBY +0.4%, GOGL +0.6%, DAC +0.6%, SBLK +2.8%. Easing congestion at Chinese ports and thin

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Baltic Dry Index extends losses as rates drop across vessel segments