Baltic Dry Index Falls for 2nd Day

The Baltic Exchange dry bulk index, which measures shipping rates for vessels carrying dry commodities, slipped 0.1% to 3,224 on Friday. The capesize index, covering ships that typically transport 150,000 ton cargoes such as iron ore and coal, fell 0.3% to 5,503. In contrast, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, rose 0.5% to 2,343. The supramax index was unchanged at 1,569. Despite the decline, the broader Baltic index gained 20% over the month of May.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, advanced for a third session on Wednesday, rising about 1.3% to its highest since May 15 at 3,124 points, amid stronger demand across all vessels segments. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, increased 1.5% to a two-week high of 5,272 points, and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, went up 1.5% to its highest since May 20 at 2,292 points. Among smaller vessels, the supramax index added 3 points, or 0.3%, to 1,562 points.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, extended its decline into a fifth day on Thursday, falling about 1.4% to its lowest since May 5 at 2,964 points, pressured by the larger vessel segments. The panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, slipped 4.1% to 2,276 points; and the capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, fell 0.9% to an over two-week low of 4,834 points. Conversely, the supramax index went up 0.3% to 1,571 points.