Baltic index extends gain on panamax strength
Sept 17 (Reuters) -The Baltic Exchange's main sea freight index .BADI, which tracks rates for ships carrying dry bulk commodities, rose for a second straight session on Tuesday as gains in the panamax segment offset losses in capesize vessels.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3%, to 1,901.
* The panamax index .BPNI gained 24 points, or about 1.7%, to reach 1,466 points. The index also registered its highest level in nearly a month.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain cargo, increased $214 to $13,190.
* The capesize index .BACI dropped 7 points, or 0.2%, to 3,090 points.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $61 to $25,623.
* Among smaller vessels, the supramax index .BSIS edged 1 point higher to 1,266.
Reporting by Rahul Paswan in Bengaluru; Editing by Shreya Biswas
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