Baltic index extends losses, though decline eases

The Baltic Exchange's main sea freight index, a benchmark for global dry bulk shipping rates, edged lower for a second consecutive session on Tuesday, but the decline moderated from the previous day's sharper drop.

On June 23, the overall index, which comprises rates for Capesize, Panamax and Supramax vessels, slipped 17 points, or 0.6%, from the previous session to settle at 2,667 points. This followed the steeper 1.4% fall on Monday when the index closed at 2,684 points. The Capesize index, which tracks vessels