Baltic Dry Index at 2-Week Low

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, retreated for the third session on Friday, slipping about 3.1% to its lowest since July 3 at 2,752 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also declined for the third day, dropping 5.6% to 4,097 points, as weaker cargo enquiries and increased vessel availability pressured spot earnings. At the same time, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, fell by 0.4% to 2,248 points. Among smaller vessels, the supramax index rose 0.4% to a fresh high since August 2022 at 1,737 points. For the week, the benchmark index was down more than 6%.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was down for the second session on Thursday, dropping about 3% to its lowest since July 6 at 2,840 points, amid continued weakness in the larger segment. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also fell for the second day, slipping 5.6% to an over one-week low of 4,339 points, on softer iron ore and coal cargo enquiries and improved vessel availability. At the same time, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, remained broadly steady at 2,257 points, supported by stable coal and grain cargo demand across both Atlantic and Pacific basins. Among smaller vessels, the supramax index went up 0.6% to a new high since August 2022 at 1,730 points, driven by firm demand across the minor bulk, steel, fertilizer, and grain segments.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, halted a four-day advance on Wednesday, falling about 1.7% to 2,929 points, dragged down by the bigger-size segment. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, snapped a four-day rally, dropping about 3.3% to 4,594 points. Conversely, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, went up 0.3% to 2,258 points; and the supramax index rose by 0.6% to its highest since August 2022 at 1,720 points.