Baltic index posts second weekly gain on capesize strength
Sept 27 (Reuters) -The Baltic Exchange's dry bulk sea freight index on Friday extended gains and posted a second consecutive weekly rise, buoyed by a jump in the capesize segment.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, rose 19 points to 2,110 points, hitting its highest level in nearly three months.
*The index was up more than 5% this week, logging its best week since Sept. 2.
* The capesize index .BACI jumped 109 points to 3,689 points, its highest since early July.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $908 to $30,598.
* The panamax index .BPNI was down 52 points, or 3.5%, at 1,446 points.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, decreased $471 to $13,013.
* Iron ore futures prices rallied for a fourth straight session and eyed a weekly gain of more than 10%, underpinned by fresh interest rates cuts in top consumer China and expectations of more fiscal and property stimulus. IRONORE/
* Among smaller vessels, the supramax index .BSIS was down 8 points at 1,306.
Reporting by Anushree Mukherjee and Anjana Anil in Bengaluru; Editing by Shreya Biswas
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