Baltic Dry Index Falls for 2nd Day

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, was down for a second day on Tuesday, slipping about 4.5% to 2,028 points, pressured by the larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, extended declines, sliding over 7% to 3,175 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, fell 1.4% to 1,724 points. On the other hand, the supramax index rose about 1% to 1,083 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, fell about 1.1% to 2,124 points on Monday, after jumping over 7% in the prior session, amid weaker demand for the larger segment. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, declined more than 2% to 3,434 points. Meanwhile, the panamax index, which usually carries 60,000-70,000 tons of coal or grain, went up 0.3% to 1,748 points; and the supramax index rose 0.5% to 1,072 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, soared about 7.3% to the highest since mid-December at 2,148 points on Friday. This surge largely reflects unusually strong early-year volumes, rising Chinese seaborne imports, and improving tonne-mile demand. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, jumped 12% to 3,507 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 1.6% to 1,743 points. Among smaller vessels, the supramax index added five points, or 0.5%, to 1,067 points. The benchmark index advanced 6.7% for the month and recorded a 27% weekly gain, notching its third consecutive weekly rise.