Baltic index dips as weaker rates for larger vessels weigh

July 5 (Reuters) - Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, eased on Monday pressured by declines in capesize and panamax vessel rates.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 61 points, or 1.9%, to 3,224.

* The capesize index dropped 161 points, or about 4.6%, to a more than three-week low of 3,349.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, were down $1,333 at $27,773.

* According to Mysteel consultancy, steel output at some producers in China was restricted due to the Communist Party's 100th anniversary and environment-related policies, sending down utilisation rates of blast furnaces at 247 mills across the country to 81.01% as of July 2 from a week earlier.

* The panamax index dipped 28 points, or 0.7%, to 4,241.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, declined $252 to $38,170.

* The supramax index was flat at 2,935 points. (Reporting by Eileen Soreng in Bengaluru; Editing by Kirsten Donovan)

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