The shipping benchmark hit its lowest since July 2 on Tuesday as capesize, panamax and supramax rates all weakened, with panamax at its lowest level since late April.
The Baltic Dry Index fell 1.2% to 2,664 on Tuesday, extending losses for a second straight session and reaching its lowest level since July 2 as freight rates weakened across the main dry bulk vessel classes. The Capesize Index, which tracks vessels typically carrying 150,000-ton cargoes such as iron ore and coal, declined 1.4% to 4,140, its lowest level since July 22. The Panamax Index, covering ships that generally transport 60,000 to 70,000 tons of coal or grain, fell 0.6% to 1,988, its lowest since late April. The Supramax Index also dropped, slipping 1.3% to 1,648, its lowest reading since June 12.