Baltic dry index extends losses

The Baltic Exchange's main sea freight index, a benchmark for global dry bulk shipping rates, fell for a second consecutive session on August 11, as sustained weakness in the Capesize and Supramax segments outweighed continued strength in the Panamax market.

The overall index, which comprises rates for Capesize, Panamax and Supramax vessels, declined by 37 points, or 1.2%, from the previous session to settle at 3,046 points on Tuesday. Nonetheless, the index remained 110 points higher than a week ago, suggesting that the latest pullback is modest relative to