Baltic Dry Index Drops to 3-week Low, Ends Quarter Higher
The Baltic Exchange's dry bulk sea freight index fell to its lowest level in over three weeks on Thursday, dragged by sliding panamax and supramax vessel rates, although the main index posted monthly and quarterly gains.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 11 points, or about 0.5%, to 2,358 points, its lowest since March 8.
The main index has gained about 6.4% this quarter and 15.6% in March, its second monthly gain this year.
The panamax index dipped 95 points, or 2.9%, to 3,141 points. The index added about 22.1% this quarter, after posting declines in the last two. For the month, it was up more than 20%.
https://www.marinelink.com/news/baltic-dry-index-drops-week-low-ends-495455