Firm capesize rates push Baltic index for third consecutive weekly gain

March 7 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose on Friday, and registered its third straight weekly gain on robust capesize demand.

The main index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained for the second consecutive session, adding 114 points to 1,400 points. The index was up more than 4% for the week.

The capesize index .BACI rose by 340 points to 2,422 points. It climbed over 14% this week.

Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $2,817 to $20,084.

Dalian iron ore futures logged a weekly fall, despite snapping a nine-session losing streak earlier today, weighed down by reports of steel production cuts in China and an intensifying trade war between Washington and Beijing. IRONORE/

The panamax index .BPNI edged three points higher to 995 points, snapping an eight-session losing streak. However, the index was down 6.7% during the week.

Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, added $20 to $8,951.

Among smaller vessels, the supramax index .BSIS was flat at 864 points and logged a weekly decline.