Feb 8 (Reuters) - The Baltic Exchange's main sea freight
index , tracking rates for ships carrying dry bulk
commodities, snapped its five-day losing streak on Wednesday, as
gains in the capesize segment offset a decline in rates for
smaller vessel segments.
* The overall index, which factors in rates for capesize,
panamax, and supramax shipping vessels, rose 2 points to 603.
* The capesize index gained 31 points, or 7%, to
474, its biggest daily percentage gain in seven weeks.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes such as iron ore and
coal, were up $250 at $3,927.
* Meanwhile, iron ore futures swung back and forth on
Wednesday, with the Singapore benchmark briefly trading below
$120 a tonne, as traders reassessed near-term demand prospects
in top steel producer China.
* The panamax index was down 11 points, or 1.27 %,
at 856, its lowest since June 12.
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, lost 102 points to 7,704 points.
* The supramax index fell 16 points to 651.
(Reporting by Ananya Bajpai in Bengaluru; Editing by Maju
Samuel)
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