The Baltic Exchange’s dry bulk freight index, which measures shipping rates for vessels transporting dry bulk commodities, declined for a second consecutive session on Tuesday, falling 2.2% to 2,590 points—its lowest level since October 19. All vessel classes registered losses, with the decline most marked among larger ships.
The capesize index, covering vessels that typically carry about 150,000 tons of cargo such as iron ore and coal, also fell for the second day in a row, slipping 3.6% to a one-week low of 3,821 points. The weakness likely reflects softer iron ore prices, driven by increased supply from major producers and sluggish demand.
The panamax index, which tracks ships usually hauling 60,000 to 70,000 tons of coal or grain, edged down 0.4% to 1,866 points, its lowest since April 13, marking a fifteenth straight session of declines. Among smaller vessels, the supramax index fell 0.5% to 1,846 points, its lowest level since October 14.
