Baltic Dry Index Edges Down on Wednesday

The Baltic Exchange's dry bulk freight index decreased 0.4% to 2121 on Wednesday, from a more than three-week high in the previous session. The capesize index, which typically transport 150,000-ton cargoes such as iron ore and coal, fell 2.5% to 3128. On the other hand, the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, rose 1.3% to 1890. Also, the supramax index advanced 3.1% to 1255.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, advanced for a third session on Tuesday, rising by 0.8% to its highest since January 30 at 2,129 points. The supramax index increased 3.2% to 1,217 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, went up 0.7% to 1,866 points. On the other hand, the capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, edged down by 0.1% to 3,207 points, after two consecutive sessions of increases.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, was up for a second session on Monday, rising 3.4% to its highest level since February 2 at 2,112 points. Stronger demand for large ships carrying iron ore, along with steady coal and grain shipments, outweighed marginal softness in smaller vessels amid muted minor bulk activity. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, advanced by 5.2% to 3,210 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 0.8% to 1,853 points. Among smaller vessels, the supramax index added 20 points to 1,179 points.