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Baltic index gains on higher capesize, panamax rates
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March 13 (Reuters) - The Baltic Exchange's main sea freight index rose on Wednesday, helped by rising rates for the larger vessel segments.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 55 points or 2.4% to 2,370 points.
* The capesize index .BACI was up by 97 points, or 2.4%, to 4,189.
* Average daily earnings for capesize vessels .BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $798 to $34,737.
* Iron ore futures prices declined on fears of a reduction in demand in top consumer China amid rising equipment maintenance among steelmakers and the latest environmental curbs in the northern region of the country. IRONORE/
* The panamax index .BPNI gained 94 points, or 4.8%, to 2,043 points, its highest level in about three months.
* Average daily earnings for panamax vessels .BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, were up $848 at $18,385.
* Among smaller vessels, the supramax index .BSIS, was down by 5 points to 1,301 points.
* "The mixed sentiment persisted with some modest upwards and downwards swings, as observed in previous weeks," shipbroker Allied said in a weekly note referring to supramax vessel segment.
(Reporting by Daksh Grover in Bengaluru; Editing by Ravi Prakash Kumar)
((Daksh.Grover@thomsonreuters.com;))


