Nov 21 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose to a nearly two-year high on Friday and was on course for a weekly gain, aided by an increase in larger vessel rates.

* The main index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 5 points to 2,275 points, its seventh consecutive gain and the highest level since March 2024. The contract was up nearly 7% this week.

* The capesize index .BACI gained 6 points to 3,653 points, marking its highest level since late July. The contract rose over 12% this week.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $48 to $30,292.

* Iron ore futures prices declined for a second straight session, weighed down by signs of softer demand and shrinking steel margins in top consumer China. IRONORE/

* The panamax index .BPNI rose by 16 points, or 0.8% to 1,928 points.

* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, increased by $150 to $17,354.

* Among smaller vessels, the supramax index .BSIS was down 3 points to 1,432 points, snapping a eleven session win streak. However, the contract was up 1.9% for the week.

(Reporting by Noel John in Bengaluru; Editing by Tasim Zahid)

((Noel.John@thomsonreuters.com;))