The Baltic Dry Index (BDI, Financial) has reached its lowest point since January 18, 2024, falling to 1,382 points. This represents a drop of 1.99% from the previous level, marking the largest decline in three days and continuing a ten-day losing streak. The index tracks the freight rates of ships that carry dry bulk commodities.
Among the components, the Panamax Index (BPI) decreased by 0.92% to 1,190 points, while the Capesize Index (BCI) saw a more significant decline of 3.77%, falling to 1,786 points. The Supramax Index (BSI) also dropped by 0.48% to 1,234 points.
The Capesize vessels, which typically carry 150,000 tons of cargo such as iron ore and coal, experienced a reduction in average daily earnings by $584 to $14,811. Despite this, iron ore futures in Dalian surged to their highest level in over a week.
Panamax ships, which usually transport 60,000 to 70,000 tons of coal or grain, saw their average daily earnings decrease by $102 to $10,711. Similarly, the Supramax ships, which carry smaller loads, experienced a slight decline in their rates.
Become a Premium Member to See This: (Free Trial):
