The Baltic Exchange’s dry bulk index, which measures shipping rates for vessels carrying dry commodities, edged up 0.4% to 1,926 points on Wednesday after a 7.1% drop in the previous session, supported by gains in the larger vessel segment.
The capesize index, reflecting rates for ships that typically transport 150,000-ton cargoes such as iron ore and coal, climbed 2.9% to 2,574 points. This marked a rebound from an almost 12% slump in the prior session and likely mirrored firmer iron ore prices.
In contrast, the panamax index, which covers vessels that usually carry 60,000 to 70,000 tons of coal or grain, extended its decline, slipping 1.6% to 1,831 points, while the smaller supramax index fell 2.2% to 1,312 points.
