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Baltic index gains as capesize vessel rates rise

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Sept 15 (Reuters) - The Baltic Exchange's main sea freight index rose for a second consecutive session on Tuesday, buoyed by stronger rates for capesize vessels.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up seven points, or 0.5%, at 1,289 points.

* The capesize index gained 24 points, or 1.3%, at 1,922 points, hitting its highest since Sept. 7

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $205 to $15,942.

* China's industrial output rose at the fastest pace in eight months in August, while its crude steel production set a monthly record high, suggesting the economic recovery was gathering pace in the world's top consumer of metals

* The panamax index was down four points, or 0.3%, at 1,296 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $38 to $11,666.

* Among smaller vessels, the supramax index fell two points to 912 points, while the handysize index fell four points to 554 points. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Amy Caren Daniel)