The Baltic Exchange’s main sea freight index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell on Tuesday on weaker capesize and panamax rates. * The overall index, which gauges the cost of shipping commodities such as iron ore, cement, grain, coal and fertiliser, fell 25 points, or 1.79 percent, to 1,370 points. * The Baltic’s capesize index dropped 1.35 percent, or 25 points, to 1,832. * Average daily earnings for capesizes, which usually transport 150,000-tonne cargoes, such as iron ore and coal, slipped $723 to $12,888. * Spot iron ore prices stayed near their weakest level in more than five months, reflecting slow demand from top importer China, where steel mills are in no rush to snap up cargoes in a soft market. * Shipments of iron ore account for about a third of seaborne volumes on the larger capesizes, and iron ore price developments remain a key factor for dry freight. * The Baltic’s panamax index was down 18 points, or 1.13 percent, at 1,580 points. * Average daily earnings for panamaxes, which usually transport 60,000- to 70,000-tonne cargoes of coal or grain, fell $146 or $12,588. (Reporting by NR Sethuraman in Bangalore)