The Baltic Exchange’s dry bulk freight index, which measures shipping rates for vessels transporting dry bulk commodities, fell for a third consecutive session on Tuesday, declining about 2.8% to 3,178 points, its lowest level since September 1. The drop was driven primarily by weakness in the larger vessel segments.
The capesize index, tracking vessels that typically carry 150,000-ton cargoes such as iron ore and coal, slipped 4.6% to 5,103 points, the lowest reading since August 26. The panamax index, which reflects rates for ships that usually transport 60,000 to 70,000 tons of coal or grain, edged down 0.5% to 2,390 points.
In contrast, the supramax index gained 0.4% to 1,797 points, its highest level since August 2022.