April 26 (Reuters) - The Baltic Exchange's main sea freight index declined on Friday, marking a weekly drop on the back of weaker demand in the larger vessel segments.
- The overall index .BADI , which factors in rates for capesize, panamax and supramax shipping vessels, fell by 22 points, or 1.3%, to 1,721 points, its lowest level in over two weeks.
- The index was down above 10% for the week.
- The capesize index .BACI shed 58 points, or 2.6%, to 2,172, marking its lowest level since April 10, declining for the sixth straight session. The index registered a weekly decline of over 23%.
- Average daily earnings for capesize vessels .BATCA , which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by $483 to $18,012.
- Iron ore futures were poised for a third straight weekly rise as prices largely consolidated gains, with improving demand in top consumer China countering higher portside inventories.
- The panamax index .BPNI was down by 18 points or about 1% to 1,878 points, marking its lowest level since April 17. The contract was down for the first time in the last three weeks.
- Average daily earnings for panamax vessels .BPWT , which usually carries about 60,000-70,000 tons of coal or grain cargo, lost $165 to $16,900.
- "This week in the panamax market reflects a generally stable yet subdued tone with several regional nuances. The market closely mirrors typical seasonal patterns, anticipating a downturn in the coming month," shipbroker Fearnleys wrote in a weekly note on Wednesday.
- Among smaller vessels, the supramax index .BSIS was up by 7 points, to 1,495 points and recorded a weekly rise of 7.2%.
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