Baltic index falls to two-week low as capesize segment declines

May 8 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell to a more than two-week low on Thursday, as weak rates in the capesize segment weighed.

The main index .BADI, which monitors rates for capesize, panamax and supramax shipping vessels, lost 58 points, or 4.2%, to 1,316, its lowest level since April 23.

The capesize index .BACI fell by 183 points, or 9.46%, to 1,752, also logging a more than two-week low.

Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $1,518 to $14,532.

Iron ore prices dropped on Thursday, as traders weighed prospects of weakening demand amid fresh expectations of crude steel output cuts in top consumer China. IRONORE/

The panamax index .BPNI added one point to 1,363.

Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, was up $12 to $12,269.

Meanwhile, shipping group Maersk MAERSKb.CO said on Thursday container volumes plunged 30%-40% between the U.S. and China in April as a trade war erupted between the countries, and warned a protracted dispute could shrink global volumes this year.

It added that it now expects global container volumes within a range of down 1% to up 4% this year, compared with the 4% growth estimated at the beginning of the year.

Among smaller vessels, the supramax index .BSIS added seven points to 968.