Baltic Dry Index Up for 2nd Day

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, advanced for a second session on Friday, rising about 1% to 3,370 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, surged by 2% to 5,768 points; and the supramax index went up by 0.3% to 1,767 points. Conversely, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, extended its decline, falling by 1.4% to 2,251 points. For the week, the benchmark index declined nearly 4%.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose by 0.3% to 3,336 points on Thursday, snapping a five-day losing streak that pushed the index to the lowest since September 1. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, increased by 0.8% to 5,656 points, partly supported by iron ore prices as Chinese steelmakers increased seaborne purchases ahead of a national holiday. At the same time, the supramax index went up 0.8% to 1,762 points. On the other hand, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell further, down 1.8% to 2,282 points.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, was down for a fifth straight session on Wednesday, falling about 1% to its lowest since September 1 at 3,327 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, declined by 1.3% to 5,612 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, dropped by 1.6% to 2,325 points. Conversely, the supramax index rose by 0.7% to 1,748 points.