Baltic index clings to a weekly gain as panamax rally accelerates

July 2 (Reuters) - Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, eked out a fourth consecutive week of gains on Friday as lower capesize rates were outweighed by soaring panamax earnings.

* The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, fell 53 points, or 1.6%, to 3,285, but still posted a 0.9% rise for the week.

* The panamax index rose 32 points, or 0.8%, to 4,269- the highest level since May 2010.

* On a weekly basis, the index has gained 17.2% - the most since mid-March.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, advanced $287 to $38,422.

* The capesize index was down 180 points, or 4.9%, at 3,510. The index dropped nearly 12% this week.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, were down $1,494 at $29,106.

* The supramax index was down 4 points at 2,935. (Reporting by Swati Verma in Bengaluru; Editing by Krishna Chandra Eluri)

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