Baltic dry bulk index dips to over 2-week low as capesize rates retreat

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- The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell to a more than two-week low on Monday, dragged by a decline in capesize vessel rates.

* The main index .BADI, which monitors rates for capesize, panamax and supramax shipping vessels, was down 15 points, or 0.9%, at 1,674, its lowest level since June 6.

* The capesize index .BACI lost 61 points, or about 2.1%, to 2,818, its lowest level since June 4.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $512 to $23,367.

* Dalian iron ore futures touched their highest levels in more than a week on Monday, supported by improving short-term demand prospects for the steelmaking ingredient in top consumer China. IRONORE/

* The panamax index .BPNI rose 12 points, or 0.9%, to 1,362.

* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, increased $103 to $12,254.

* Among smaller vessels, the supramax index .BSIS gained 6 points to 979.


(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Leroy Leo)

((sherinelizabeth.varghese@thomsonreuters.com;))

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