Baltic index extends fall as rates for capesize, supramax dip

Jan 30 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, extended losses for the thirteenth straight session on Thursday, pressured by a dip in rates across capesize and supramax segments.

* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 11 points to 715 points, hitting its lowest in 23 months.

* The capesize index .BACI slipped 35 points to 841 points, dropping to its lowest level since February 2023.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, lost $290 to $6,977.

* The panamax index .BPNI gained 16 points to 767 points.

* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain, increased by $137 to $6,899.

* Among smaller vessels, the supramax index .BSIS was down 7 points at 605 points, its lowest since June 2020.

* We expect lower freight rates this year and the next, compared to 2024, due to a weaker supply/demand balance, with panamax and supramax vessels likely to see a drop in demand if ships return to the Red Sea, while China's weak domestic consumption continues to pose a threat, said analysts at the Baltic and International Maritime Council (BIMCO) in a note.

* Red Sea shipping has been risky despite the Gaza ceasefire and an announcement by Yemen's Houthis to limit their attacks.