The Baltic Dry Index (BDI), a key indicator of global shipping rates for dry bulk commodities, has experienced a significant drop, reaching 1,756 points, which marks a 1.62% decrease. This decline is the largest since late October 2024, with all major vessel categories contributing to the downturn.
The Capesize Index (BCI), which tracks vessels typically transporting large quantities of iron ore and coal, fell 67 points to 3,162. Capesize ships' daily earnings decreased by $557, averaging $26,220. Despite this, iron ore futures surged to the psychological threshold of $100 per ton.
The Panamax Index (BPI), reflecting rates for ships generally carrying coal or grain loads of 60,000-70,000 tons, decreased by 10 points to 1,202. Panamax vessels' average daily profits dropped by $85 to $10,821.
Lastly, the Supramax Index (BSI), which represents smaller vessels, declined by 10 points to 1,009.
