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Rising rates across all segments push Baltic index to one-week peak
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March 24 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose to a one-week high on Monday, helped by gains across all vessel segments.
* The main index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, added 9 points, or 0.6%, to 1,652 points, its highest level since March 17.
* The capesize index .BACI extended gains, rising 14 points, or 0.5%, to 2,690 points.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $121 to $22,311.
* Iron ore futures strengthened as higher demand for the key steelmaking ingredient in top consumer China outweighed worries of steel production cuts. IRONORE/
* The panamax index .BPNI rose by 14 points, or nearly 1%, to 1,389.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, gained $125 to $12,504.
* Among smaller vessels, the supramax index .BSIS ticked higher to 1,013 points, a level not seen in over four months.
* Elsewhere, U.S. and Russian officials held talks in Saudi Arabia aimed at making progress towards a broad ceasefire in Ukraine with Washington eyeing a separate Black Sea maritime ceasefire deal before securing a wider agreement.
(Reporting by Daksh Grover in Bengaluru; Editing by Sahal Muhammed)
((Daksh.Grover@thomsonreuters.com;))