For A Third Day, The Capesize Index Fell

Credit: Containership_Unsplash

A Trading Economic news source highlights the Baltic Exchange Dry Index data.

The Baltic Exchange’s main sea freight index

The Baltic Exchange’s main sea freight index, which measures the cost of shipping goods worldwide, was down for a second straight session on Monday, falling 14 points to a near one-week low of 1,223 points, mainly pressured by the larger vessel segment.

The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, declined for a third day, dropping 3.8% to a near four-week low of 1,538 points.

Smaller vessels

Also, the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, snapped its 18-day winning streak, shedding 1 point to 1,541 points. Among smaller vessels, the supramax index rose 21 points, or 2.4% to 900 points.

Baltic Exchange Dry Index is expected to trade at 1168.72 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 985.64 in 12 months time.

Historically, Baltic Exchange Dry Index reached an all time high of 11793 in May of 2008. Baltic Exchange Dry Index – data, forecasts, historical chart – was last updated on August of 2023.


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Source: Trading Economics


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