Baltic Dry Index Edges Down
The Baltic Exchange's dry bulk sea freight index, an indicator of rates for ships transporting dry commodities, experienced a decline on Tuesday after a five-day upward trend, dipping approximately 0.4% to settle at 1,398 points. This downturn was due to reduced rates across all vessel categories. The capesize index, which monitors ships handling 150,000-ton loads such as iron ore and coal, dropped by two points to 1,978 points. Meanwhile, the panamax index, typically associated with vessels carrying 60,000-70,000 tons of coal or grains, decreased by six points to 1,389 points. Among smaller vessel categories, the supramax index saw a reduction of 8 points, reaching 967 points. Felipe Gouveia from BIMCO commented, "We expect that the supply and demand dynamics of the dry bulk market will be weaker this year compared to 2024. The demand for iron ore and coal is projected to remain subdued, exacerbated by a deteriorating outlook for minor bulks following the increase in US tariffs."
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