Baltic Index Falls for 3rd Session

The Baltic Index, measuring the price for dry bulk freight, eased by 0.3% to 2,994 points on Tuesday, a third straight decline to its lowest since late August. The index measuring prices for capsize bulk carriers dropped 0.9% to its lowest level since August 21st. In turn, indexes measuring panamax and supramax vessels inched higher by 0.8% and 0.3%, respectively.

The Baltic Index, measuring the price for dry bulk freight, fell by 2.2% to 3,002 points on Tuesday, its lowest since late August. The index measuring prices for capsize bulk carriers plunged by 4% to 4,638, aligned with a drop in earnings for iron ore and coal carriers. In turn, indexes measuring panamax and supramax vessels was mostly unchanged from the previous session.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, dropped about 2.5% to its lowest since August 26 at 3,070 points on Monday, halting two successive sessions of gains. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also snapped a two-day winning streak, slipping 4.2% to its lowest since August 25 at 4,833 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell 0.3% to 2,364 points. Among smaller vessels, the supramax index went up by 0.1% to 1,790 points.