Baltic Dry Index Extends Decline to Over 1-Month Low
The Baltic Exchange's dry bulk sea freight index, a measure of shipping rates for vessels carrying dry goods, decreased for the fourth consecutive day on Thursday. It declined by approximately 1.8% to reach 1,893 points, marking its lowest level since July 15. This drop was largely influenced by a decline in the capesize segment, which typically involves ships ferrying around 150,000 tons of commodities like iron ore and coal. The capesize index saw a significant decrease, slipping 5.7% to 2,703 points, which is its lowest since July 16. In contrast, the panamax index, representing ships that transport 60,000-70,000 tons of coal or grain, increased by 3.2% to 1,719 points. Meanwhile, the supramax index also experienced growth, rising by 1.2% to stand at 1,405 points.
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