The Baltic Exchange’s dry bulk freight index, which measures shipping rates for vessels carrying dry bulk commodities, fell for a second consecutive session on Monday, declining about 4.6% to 3,268 points—its lowest level since September 1.
The capesize index, tracking ships that typically transport 150,000-ton cargoes such as iron ore and coal, dropped 7.5% to 5,351 points, likely pressured by weaker iron ore prices amid ample global supply.
The panamax index, reflecting rates for vessels that usually carry 60,000 to 70,000 tons of coal or grain, edged down 0.2% to 2,402 points, in part due to softer wheat prices.
Among smaller vessels, the supramax index inched up 0.2% to 1,790 points.