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Baltic index gains on firm capesize rates
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May 29 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Wednesday as the rates in capesize vessels rose.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, climbed 6 points, or 0.34%, to 1,790.
* The capesize index .BACI gained 66 points, or 2.53%, to 2,674, its highest level since May 21.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes of iron ore and coal, among others, increased $545 to $22,178.
* Iron ore futures prices moved sideways, marking the Dalian benchmark's third consecutive session of decline, as weakening fundamentals of the key steelmaking ingredient further overshadowed property stimulus measures in China.IRONORE/
* The panamax index .BPNI fell for the third consecutive session, slipping 39 points, or about 2.17%, to 1,762, marking its lowest level since April 16.
* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, dipped $355 to $15,858.
* Among smaller vessels, the supramax index .BSIS eased 16 points, or 1.22%, to 1,293, its lowest level since April 15.
(Reporting by Anmol Choubey in Bengaluru; Editing by Shreya Biswas)
((anmol.choubey@thomsonreuters.com;))


