Baltic Dry Index Falls Further

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, was up for a second session on Thursday, rising by 2.3% to its highest since October 13 at 2,712 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also advanced for a second day, surging by 5.3% to its highest since October 12 at 4,090 points. The continued increase was likely mirrored firmer iron ore prices, on rising Chinse steel mill production and higher freight rates amid expectations of higher demand. On the other hand, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, declined further by 2.2% to its lowest level since April 14 at 1,921 points. Among smaller vessels, the supramax index fell by 0.4% to its lowest since October 20 at 1,870 points.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, halted its three-day losing streak on Wednesday, rising about 1.9% to 2,652 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, climbed roughly 5% to a two-week high of 3,886 points, reversing three consecutive sessions of declines. The surge was likely driven by firmer iron ore prices as resumed Chinese steel mill production and restocking boosted expectations for stronger seaborne cargo demand. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell further by 2.8% to its lowest level since late April at 1,965 points; and the supramax index went down by 0.3% to a one-week low of 1,878 points.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, declined for a third session on Tuesday, falling roughly 1% to its lowest since October 20 at 2,603 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, was also down for a third day, falling by 0.6% to a one-week low of 3,702 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, dropped by 2.6% to its lowest since July 29 at 2,021 points. Among smaller vessels, the supramax index decreased by 0.3% to 1,883 points.