Baltic index logs weekly gain on higher vessel rates
July 12 (Reuters) -The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Friday to mark a weekly gain on the back of higher rates across all the vessel segments.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 50 points, or 2.6%, to 1,997. The index rose 2.9% this week.
* The capesize index .BACI rose 113 points, or 3.6%, to 3,296. The contract was up 0.6% this week.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes, such as iron ore and coal, were up $942 at $27,338.
* Iron ore futures are set for a weekly fall amid a flurry of profit-taking, ahead of top consumer China's third plenum, although growing expectations of U.S. rate cuts pushed up prices on Friday. IRONORE/
* The panamax index .BPNI rose 40 points, or about 2.4%, to 1,678. The index gained 9.6% this week.
* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, increased $367 to $15,106.
* Among smaller vessels, the supramax index .BSIS edged higher 3 points, or 0.2% to 1,364. The index was up 2.2% this week.
* A Chevron-chartered oil tanker seized by Iran more than a year ago is heading toward the Sohar port in Oman, LSEG ship tracking data showed on Friday.
Reporting by Anmol Choubey in Bengaluru; Editing by Vijay Kishore
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