Baltic Dry Index Edges Down on Tuesday

The Baltic dry index decreased 1 point to 2,670 on Tuesday, following a 2.9% fall on Monday. The panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, dropped 2.1% to 2,181. Also, the supramax index went down 0.5% to 1,730, its first decline since early July. On the other hand, the capesize index, which typically transport 150,000-ton cargoes, rose 1.1% to 3,930, its first gain since July 14.

The Baltic dry index fell 2.9% to 2,671 on Monday, its lowest since July 2. The capesize index, which typically transport 150,000-ton cargoes, including iron ore and coal, dropped 5.1% to an over two-week low of 3,889. Also, the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, decreased 0.9% to 2,227. Among smaller vessels, the supramax index increased to 1,738, its highest level since August 2022.

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%.