The Baltic Exchange’s dry bulk sea freight index was unchanged on Monday as gains in the panamax and supramax segments countered a decline in capesize rates.

The main index, which tracks rates for capesize, panamax and supramax shipping vessels, held steady at 1,436 points.

The capesize index fell 30 points, or about 1.6%, to 1,825. The contract was down for a fifteenth straight session.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $250 to $15,132.

Iron ore futures slid as renewed concerns over demand weighed on the market, pressured by output restrictions in top consumer China’s major steel production hub of Tangshan and lingering uncertainty over U.S. trade tariffs.

U.S. President Donald Trump said on Sunday that he is close to finalising several trade agreements and will notify other countries of higher tariff rates by July 9, with those rates scheduled to take effect on August 1.

The panamax index rose 11 points, or 0.7%, to 1,531, marking its highest level since September 25 last year.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, gained $94 to $13,777.

Among smaller vessels, the supramax index climbed to its highest level since November 6, 2024, adding 19 points, or 1.8%, to 1,100.
Source: Reuters