The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, declined on Tuesday, weighed down by a slump in capesize vessel rates.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 122 points, or 5.7%, to 2,022 points.

The index posted its best day in four months on Monday on expectations of higher shipping costs following China’s pledge to charge additional ports fees on U.S. ships.

On Tuesday, Washington and Beijing began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil.

The capesize index fell 385 points, or 11.4%, to 3,007 points, a day after it posted its best day since July 11.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $3,194 to $24,938.

Iron ore futures retreated as investors booked profits after focus shifted back to expectations of growing ore supply in the rest of 2025, while steel demand in top consumer China seasonally slows.

The panamax index rose 0.5% to 1,815 points.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, rose by $80 to $16,337.

Among smaller vessels, the supramax index rose 0.6% to 1,408 points.
Source: Reuters