Baltic index drops to three-week low on broad-based weakness

Sept 7 (Reuters) - The Baltic Exchange's main dry bulk sea freight index dropped on Tuesday to its lowest since mid-August, as demand eased across all vessel segments.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell for a sixth straight session by 115 points, or 3%, to 3,707, its lowest since Aug. 17.

* The capesize index declined 271 points, or 5.1%, to 5,091, its lowest in three weeks.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, decreased by $2,245 to $42,220.

* China's iron ore futures rebounded on Tuesday from a seven-month low, though gains were capped after data showed the world's largest steel producer ramped up purchases of the steelmaking raw material last month.

* The panamax index dropped 48 points, or 1.4%, to a near one-month low of 3,496.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $427 to $31,468.

* Among smaller vessels, the supramax index dipped 37 points to 3,256, its lowest since Aug. 19.

(Reporting by Rahul Paswan in Bengaluru; Editing by Aditya Soni)

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