Baltic Dry Index at Over 3-Week Low

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%.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, retreated for a second session on Thursday, dropping about 4.3% to its lowest since February 27 at 2,138 points. The larger vessel segments were hit by reduced traffic through the Strait of Hormuz, reflecting disruptions caused by the Middle East crisis. "Although this passage is less critical for the dry bulk than for the tanker market, the disruptions still impact around 4% of the dry bulk cargo volumes and tonne mile demand," said Filipe Gouveia, Shipping Analysis Manager at BIMCO. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, slipped 7.8% to a three-week low of 2,951 points; and the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, fell 0.8% to 1,997 points. On the other hand, the supramax index remained steady at 1,392 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, advanced for a third session on Tuesday, rising 2.5% to its highest level since December 11 at 2,242 points, propelled by higher rates across segments. The increase follows disruptions from the escalating Iran conflict, which has effectively closed the Strait of Hormuz and forced vessels onto longer routes. Freight costs have surged as carriers adjust, while insurers pull coverage, further pressuring global shipping. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, surged 3.6% to a one-month high of 3,245 points; and the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, increased 1.2% to a peak since September last year at 2,002 points. Among smaller vessels, the supramax index rose 1.6% to 1,383 points.