* The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, lost 7 points, or 0.5%,
at 1,510.
* The capesize index was also down 7 points, or
0.4%, at 1,986.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes carrying commodities
such as iron ore and coal, decreased $55 to $16,471.
* Dalian and Singapore iron ore futures fell to a more than
four-month low as sluggish steel demand in China prompted mills
to curb output, raising the possibility of an oversupply of the
steel-making raw material.
* However, "dry bulk rates are well above the lows seen
earlier this year and are currently holding at profitable levels
for most shipowners," analysts at Jefferies said.
* The panamax index lost 20 points, or 1.2%, to 1,667.
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, decreased $185 to $15,001.
* Among smaller vessels, the supramax index gained 4
points to 1,216 - its highest in almost a month.
* "A much improved situation for Supramax owners as rates
improved across the board and for the most part, recovered
declines seen in some routes the week prior," shipbroker Allied
wrote in a weekly report.
(Reporting by Ananya Bajpai in Bengaluru; Editing by Subhranshu
Sahu)
