Baltic index falls as capesize rates decline
July 25 (Reuters) -The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday as rates for the larger capesize vessel segment dropped to a nearly two-month low.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, lost 30 points, or 1.6%, to 1,834, hitting its lowest level in more than six weeks.
* The capesize index .BACI fell 107 points, or 3.8%, to 2,696, its lowest level in nearly two months.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes, such as iron ore and coal, were down $883 at $22,363.
* Iron ore futures prices lost further ground, weighed down by strong global supply and top consumer China's persistently weak steel market, although hints of heavier monetary stimulus helped limit losses. IRONORE/
* The panamax index .BPNI was up 20 points, or 1.1%, to 1,785, marking its highest level in a month.
* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, increased $181 to $16,066.
* Among smaller vessels, the supramax index .BSIS gained 2 points, or 0.1%, to 1,387.
* Three ships from Russia's Baltic Fleet will arrive in Cuba on Saturday, official media said on Thursday, the second visit by Russian naval vessels since June.
Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Shreya Biswas
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