Baltic Dry Index Rebounds on Friday, Records Weekly Drop

The Baltic dry index increased 0.7% to 2,863 on Friday, recovering after four consecutive sessions of losses. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, rose 1.5% to 4,538. Also, the supramax index went up 0.6% to 1,622, its highest since July 28. On the other hand, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, decreased 1.5% to 2,228. For the week, the Baltic dry index fell 7.3%.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, retreated for a fourth session on Thursday, dropping about 3.2% to its lowest since August 3 at 2,844 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, slipped further, down about 5.2% to 4,469 points; and the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, fell by 1.7% to 2,262 points, marking the second session of decreases. Among smaller vessels, the supramax index went up by 0.6% to 1,613 points.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was down for a third session on Wednesday, dropping about 3.5% to its lowest since August 4 at 2,939 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, slipped by 5.8% to 4,712 points; and the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, snapped a ten-session winning run, falling 0.4% to 2,302 points. Among smaller vessels, the supramax index went up by 0.2% to 1,603 points.