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Baltic Dry Index Down for 7th Day
The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, recorded the seventh consecutive session of decreases on Tuesday, dropping 3.1% to a new low since July last year at 1,608 points. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, retreated for the 14th straight day, slipping 5% to 2,446 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, was down for a second day, falling 0.7% to 1,331 points. Among smaller vessels, the supramax shed 8 points at 952 points.
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