Baltic Dry Index Snaps Two-day Losing Streak

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, dropped about 7.1% to the lowest since February 10 at 1,919 points on Tuesday, after rising nearly 3% the prior day. Ongoing disruptions in the Strait of Hormuz continued to weigh on shipping activity and freight demand. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, plummeted 11.8% to 2,502 points; and the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, extended its decline, falling 2.7% to 1,861 points. Among smaller vessels, the supramax index slipped 2.3% to 1,342 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, snapped a three-day losing streak, rising about 2.8% to 2,066 points, underpinned by the bigger-size segment. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, rebounded by 7.8% to 2,835 points. Meanwhile, the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, continued to decline, falling 2.5% to 1,914 points; and the supramax index decreased by 0.9% to 1,373 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, was down for a third session on Friday, sliding 6% to its lowest point since February 11 at 2,010 points. Rates declined across all vessel segments amid disruptions to maritime traffic caused by the Middle East conflict. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, plummeted 10.8% to a one-month low of 2,631 points; and the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, fell 1.8% to 1,962 points. Among smaller vessels, the supramax index went down 0.4% to 1,386 points. For the week, the benchmark index dropped about 6.1%.