May 1 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, dipped for a seventh straight session on Wednesday, led by falling panamax rates as holidays in many countries cut activity.
The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 1 point or 0.12 percent to 862 points.
The Baltic's panamax index fell 10 points or 0.97 percent to 1,018 points as demand for panamaxes remained soft while China and much of Europe were out of the market for holidays.
Average daily earnings for panamaxes, which usually transport 60,000 to 70,000 tonne cargoes of coal or grains, were down $85 to $8,129.
The Baltic's capesize index, however, rose 6 points or 0.47 percent to 1,279 points, with average earnings up $114 to $4,997. Capesize vessels typically transport 150,000 tonne cargoes such as iron ore and coal.
Average daily earnings for handysize ships were up $16 to $8,038, while those for supramax ships were down $49 to $9,239.
(Reporting by Koustav Samanta in Bangalore; editing by Jane Baird) Keywords: BALTIC/
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