The Baltic Dry Index (BDI) has dropped to 1,354 points, marking its lowest level since January 17, 2024. This represents a 4.58% decline and the third consecutive day of decreases. The index tracks shipping rates for vessels carrying dry bulk commodities.
The Panamax Index (BPI) fell to 1,018 points, a 0.97% decrease, marking its 11th straight day of decline and hitting a 16-month low. Panamax vessels, which typically transport 60,000-70,000 tons of coal or grain, saw average daily earnings drop by $89 to $9,161.
The Capesize Index (BCI) also dropped significantly by 7.74% to 2,133 points, marking a three-week low. Capesize ships, usually carrying 150,000 tons of cargo like iron ore and coal, experienced a $1,486 decrease in average daily earnings, now at $17,686.
Meanwhile, the Supramax Index (BSI) slightly decreased by 0.91% to 980 points. The downturn in freight rates reflects broader market trends despite rising iron ore futures in China.
