Baltic index drops to more than three-week low as larger vessel rates slip
Nov 28 (Reuters) -The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell to more than a three-week low on Thursday as rates across larger vessels slipped.
* The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 90 points to 1,419 points, its lowest level since Nov. 5.
* The capesize index .BACI lost 257 points to 2,312 points, hitting a three-week low.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $2,130 to $19,172.
* Prices of iron ore futures flitted within a narrow range on Thursday, as traders weighed stronger prospects for China's steel market against weaker economic data from the world's top consumer.IRONORE/
* The panamax index .BPNI lost 16 points to 1,028 points, down for 10 sessions in a row, hitting its lowest level in over a year.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, shed $146 to $9,250.
* Among smaller vessels, the supramax index .BSIS edged 1 point higher to 989 points.
Reporting by Anushree Mukherjee in Bengaluru;Editing by Elaine Hardcastle
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