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Baltic index extends fall as capesizes sink to over 3-month low

Aug 4 (Reuters) - The Baltic Exchange's main sea freight index dipped for a ninth straight session on Thursday, led by tumbling capesize rates as demand for all vessel segments fell.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 128 points, or 7.4%, to 1,603 points, marking its worst day since May 27.

* The capesize index dropped 310 points, or 17.3%, to its lowest level since April 20, at 1,480 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell by $2,571 to $12,271.

* Dalian and Singapore iron ore futures slumped to one-week lows on Thursday, pressured by worries about an unsustainable demand recovery in top steel producer China and prospects of increased supply.

* The panamax index was down 22 points at 1,983 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $198 to $17,849.

* The supramax index fell 58 points to 1,747 points. (Reporting by Kavya Guduru in Bengaluru; Editing by Shailesh Kuber)

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