Baltic index drops to 2-week low as smaller vessels fall

Sept 2 (Reuters) - The Baltic Exchange's main dry bulk sea freight index fell to a two-week low on Thursday, as a retreat in panamaxes and supramaxes offset a slight uptick in the larger capesize segment.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, declined 12 points, or 0.3%, to 4,001, lowest since Aug. 19.

* The panamax index fell 57 points, or 1.5%, to 3,649.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $508 to $32,846.

* Among smaller vessels, the supramax index extended its fall to a second day to 41 points at 3,393.

* The capesize index, meanwhile, advanced 50 points, or 0.8%, to 5,716.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $420 to $47,407.

* Chinese coking coal futures soared 8% to hit their daily upper limit and an all-time high on Thursday as sluggish imports and production control at mines stoked supply concerns. (Reporting by Rahul Paswan in Bengaluru; Editing by Vinay Dwivedi)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.