The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry bulk commodities, extended losses and fell to a two-week low on Wednesday, pressured by lower vessel rates across all segments.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 127 points, or 5%, to 2,430 points, its lowest since November 26.

The capesize index lost 347 points, or about 7.5%, to 4,284 points, hitting a near two-week low.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $2,876 to $35,527.

Iron ore futures gained on Wednesday, snapping multiple sessions of losses, after soft factory data from top consumer China bolstered hopes of a fresh stimulus to spur economic growth in 2026.

The panamax index lost 22 points, or 1.2%, to 1,764 points, its lowest level since October 9.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, decreased by $200 to $15,878.

Among smaller vessels, the supramax index lost 14 points to 1,405 points.
Source: Reuters