16.10.202614:06:23UTC+00Baltic Dry Index at Over 3-Month Low

The Baltic Exchange’s dry bulk freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell about 1.3% on Friday to 2,515 points, its lowest level since June 30 and its tenth consecutive daily decline. Persistent weak iron ore demand and subdued sentiment in China’s steel market continued to pressure Capesize rates, while ample vessel availability further weighed on the market.

The Capesize index — reflecting earnings for vessels that typically carry 150,000-ton cargoes such as iron ore and coal — slid 2.2% to 3,249 points, its lowest reading since early April. The Panamax index, which covers ships that usually transport 60,000–70,000 tons of coal or grain, fell 1.8% to 2,314 points.

Among smaller segments, the Supramax index rose 0.5% to 1,865 points. Overall, the benchmark Baltic Dry Index declined about 14% over the week, extending its losing streak to a third consecutive week.