* The overall index, which factors in rates for capesize, panamax and
supramax shipping vessels, rose 16 points, or about 1%, to 1,603 - its highest
since Dec. 22.
* The panamax index was up 25 points, or about 1.4%, to 1,768 - its
highest since Oct. 28.
* "Seaborne-wise, we expect to see some support from the grain trade to the
dry bulk market in the coming months," shipbroker Intermodal wrote in a weekly
report.
* "More specifically, in the wheat market, a favorable combination of the
current increased activity in the USG and Australia paired with the recovery of
Chinese demand, as well as the country's low inventories, will particularly
favour the mid-sized bulkers."
* Average daily earnings for panamaxes , which usually carry coal or
grain cargoes of about 60,000 to 70,000 tonnes, increased $227 to $15,912.
* The capesize index lost 6 points, snapping its 17-session streak
of gains at 2,104.
* Average daily earnings for capesizes , which typically transport
150,000-tonne cargoes such as iron ore and coal, decreased $47 to $17,453.
* Among smaller vessels, the supramax index rose 33 points, or about
2.6%, to 1,296.
* Meanwhile, benchmark iron ore futures held ground on Wednesday as China's
activity data in January and February pointed to an economic rebound, albeit
gradual, for the world's top steel producer. (Reporting by Ananya Bajpai in Bengaluru; Editing by Shailesh Kuber)
March 15 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, rose on
Wednesday, as gains in the panamax segment countered losses in capesize rates.
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