The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, fell on Thursday due to weak capesize rates.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 1 point, or 0.1%, to 2,111 points.

The capesize index lost 30 points, or 1%, to 3,041 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $247 to $25,218.

Prices of iron ore futures slipped on Thursday, as top consumer China’s accumulating steel stocks in the peak demand season weighed on sentiment.

The panamax index hit an over one-year high, gaining 23 points, or 1.2%, to 1,998 points, reaching its highest level since May 2024.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, increased by $205 to $17,983.

Among smaller vessels, the supramax index rose 6 points, or 0.4%, to 1,484 points.
Source: Reuters