Baltic index slips as capesize losses overshadow gains in smaller vessels

March 25 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, edged down on Tuesday as pressure from lower capesize rates outweighed gains in smaller vessel segments.

The main index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 10 points, or 0.6%, to 1,642 points.

The capesize index .BACI shed 60 points, or 2.2%, to 2,630 points, marking its lowest level since March 11.

Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $501 to $21,810.

Iron ore futures rose, buoyed by higher demand for the steelmaking ingredient, although steel output cuts in top consumer China limited gains. IRONORE/

The panamax index .BPNI added 34 points, or 2.5%, to 1,423 points, a level not seen in over five-months.

Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, gained $299 to $12,803.

Among smaller vessels, the supramax index .BSIS ticked up by 2 points to 1,015 points.

Elsewhere, President Donald Trump's plan to revitalize the U.S. shipbuilding industry is likely to backfire because it relies on proposed fees on China-linked vessels that will hurt domestic ship operators, seaports, exporters and jobs, industry executives said at U.S. Trade Representative hearings on Monday.