Baltic Dry Index hits 15-month low amid lower ship rates
The Baltic Exchange Dry Cargo Shipping Index, which tracks rates for dry bulk carriers, fell to a 15-month low on Tuesday due to losses across all shipping segments.
The index, which takes into account rates for Capesize, Panamax and Supramax class vessels, fell 12 points to 1,156 points, the lowest since September 2023.
The Capesize index fell 29 points to 1,503 points, also reaching its lowest level since September 2023.
The average daily earnings of Capesize vessels, which typically carry 150,000-ton cargoes such as iron ore and coal, fell $238 to $12,464.
The Panamax index fell 2 points to 1,077 points.
The average daily earnings of Panamax-class vessels, which typically carry 60,000-70,000 tons of coal or grain, fell $22 to $9,691.
Among smaller vessels, the supramax index fell 4 points to 967 points, the lowest since August 2023.
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