Baltic Dry Index at Over 2-Week Low
The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, eased for the second straight session on Tuesday, dropping 2.2% to its lowest since October 19 at 2,590 points. All vessel segments moved lower, with the downturn particularly pronounced among larger vessels. The capesize index, which typically transports 150,000-ton ...
The Baltic Dry Index, which measures rates for dry bulk freight shipping, fell for the second consecutive day on Tuesday, reaching its lowest level since October 19 at 2,590 points, according to the Baltic Exchange. This downward trend extended to all vessel categories, with large vessels experiencing a more significant decline.
The capesize index, which primarily transports commodities like iron ore and coal in 150,000-ton shipments, declined by 3.6% to a one-week low of 3,821 points. This drop may be attributed to lower iron ore prices resulting from increased supply from key producers and reduced demand for the material. The panamax index, which handles 60,000 to 70,000 tons of coal or grain, slipped by 0.4% to its lowest level since April 13 at 1,866 points, marking its 15th successive day of decline.
The supramax index, which covers smaller vessels, also dropped by 0.5% to its lowest mark since October 14 at 1,846 points.
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