Baltic index nudges up, but registers fall for third straight week
Oct 23 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for capesize, panamax and supramax vessels, rose on Friday, buoyed by an uptick in demand for capesize and panamax vessels.
* The Baltic index rose 14 points, or 1%, to 1,415.
* However, the index registered a 4.2% weekly loss, marking its third straight weekly decline.
* The capesize index gained 26 points at 2,261, but registered a more than 6% weekly fall.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $212 to $18,749.
* Chinese iron ore futures closed lower on Friday and logged their second straight weekly loss, as rising portside inventories hurt prices.
* The panamax index gained 19 points, or 1.5%, to 1,274.
* The index fell 3.7% this week, its second consecutive weekly dip.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $175 to $11,469.
* Among smaller vessels, the supramax index was unchanged at 972. (Reporting by Anjishnu Mondal in Bengaluru; Editing by Shailesh Kuber)
