Baltic index hits near two-month high on capesize, panamax strength

Sept 24 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose to a nearly two-month high on Wednesday, driven by increased prices across capesize and panamax vessel segments.

* The main index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 40 points to 2,240 points, its highest level since July 25.

* The capesize index .BACI gained 104 points to 3,573 points.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $866 to $29,636.

* Iron ore futures prices steadied, with analysts cautioning that the recent rally may have run ahead of market fundamentals. IRONORE/

* The panamax index .BPNI rose by 25 points to 1,824 points, snapping a seven-day losing streak.

* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, increased by $224 to $16,414.

* Among smaller vessels, the supramax index .BSIS was down 3 points to 1,483 points.