Baltic Dry Index Falls to 1-Week Low

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.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, was down for a second session on Monday, falling by 1.2% to a near one-week low of 2,628 points, pressured by the larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also decreased for a second day, dropping by 1.7% to its lowest in nearly a week at 3,726 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell by 1.6% to its lowest since July 30 at 2,075 points. Among smaller vessels, the supramax index edged up by 0.1% to 1,888 points.