Baltic Dry Index Down for 3rd Day

The Baltic Exchange's dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, was down for a third day on Wednesday, slipping about 2.3% to its lowest since August 21 at 1,940 points, pressured by the larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, dropped 101 points to 2,773 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, shed 23 points to 1,719 points. Conversely, the smaller supramax index rose 1 points to 1,467 points.