Baltic Dry Index Edges Up

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, advanced for a second session on Thursday, rising about 2.4% to 1,972 points, mainly supported by the bigger-size segment. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, surged by 5.7% to 2,721 points, partly on the back of higher iron ore prices. At the same time, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, went up 0.2% to 1,835 points; while the supramax index fell 1.7% to 1,290 points.

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, rose about 0.4% to 1,926 points on Wednesday, following a 7.1% decline in the prior day, supported by the larger segment. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, rose by 2.9% to 2,574 points, rebounding from a nearly 12% plunge in the previous session, likely tracking higher iron ore prices. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell further, down 1.6% to 1,831 points; and the smaller supramax index declined 2.2% to 1,312 points.

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.