The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, rose for a third successive session on Wednesday, 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, added 5 points, or 0.3%, to 2,046 points, its highest since August 8.

The capesize index lost 42 points, or 1.4%, to 2,989 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, fell $354 to $24,786.

Iron ore prices dropped for a second consecutive session, as rising supply outweighed strong short-term demand for the steelmaking ingredient.

The panamax index was up 56 points, or 3.1%, to 1,874 points, its highest since July 24.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, rose $502 to $16,865.

Among smaller vessels, the supramax index rose 10 points, or 0.7%, to 1,447 points, highest since May 2024.
Source: Reuters