Baltic Dry Bulk Index Decline
The Baltic Exchange’s dry‑bulk sea‑freight index fell on Tuesday, ending a two‑session rise and reaching its lowest level in more than two weeks. The main index, which tracks capesize, panamax and supramax vessels, dropped 63 points, or 2.2%, to 2,815, the lowest since July 31. The capesize sub‑index lost 138 points, a 3% decline, settling at 4,452; average daily earnings for capesize vessels, which typically haul 150,000‑ton cargoes such as iron ore and coal, fell by $1,250 to $36,872. The panamax sub‑index slipped 51 points, or 2.3%, to 2,155, its lowest since August 3, with average daily earnings decreasing $462 to $19,391 for vessels that usually carry 60,000‑70,000 tons of coal or grain. Gains in the smaller supramax segment were insufficient to offset the broader decline.
Iron‑ore futures rose as weak Chinese economic data heightened expectations of additional stimulus, partially offsetting concerns over slowing industrial activity and a sharp drop in steel output.