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The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was flat on Monday as weaker capesize rates offset demand for smaller vessels.

The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, remained unchanged at 610 points.

The capesize index shed nine points, or 1.04 percent, to 856 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $66 at $5,549.

The panamax index gained 12 points, or 2.01 percent, at 608 points.

Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, were up $96 at $4,860.

For the relatively smaller vessels, the supramax index

and the handysize index shed a point each to 655 points and 331 points respectively.