Baltic index hits five-week high on stronger rates across vessels

June 16 (Reuters) - The Baltic exchange's main sea freight index rose for the sixth straight session to its highest level in five weeks on Wednesday, helped by stronger rates across vessel segments.

* The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, gained 151 points, or 5%, to its highest since May 11 at 3,176.

* The capesize index rose 315 points, or 8.5%, to a one-month high of 4,010.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, rose $2,618 to $33,258.

* The panamax index gained 112 points, or 3.3%, to 3,519, a peak since June 2010.

* "Panamax and Supramax (rates) are expected to remain firm, with the spread between the two normalizing again, following a month of Supramax being at a premium," shipbroker Intermodal said in a weekly research note dated Tuesday.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, went up by $1,007 to $31,671.

* The supramax index rose 46 points to 2,713, the highest as per Refinitiv Eikon data available since 2017. (Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Shinjini Ganguli)

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