The Baltic Dry Index falls as Capesize and Panamax freight rates decline

Golden Ten Data Futures, May 18 – According to foreign media reports, the Baltic Dry Index closed lower as Capesize and Panamax freight rates declined. The Baltic Dry Index (BDI) fell by 59 points, or 1.9%, from the previous trading day to 3,092 points. The Capesize Index (BCI) dropped 160 points, or 3.1%, to 5,013 points. Average daily earnings for Capesize vessels decreased by $1,454 to $41,959. These vessels typically have a carrying capacity of 150,000 tons, transporting cargoes such as iron ore and coal. Iron ore prices fell to their lowest level in over a week on Monday, dragged down by increased shipments from major suppliers and uncertain demand prospects amid declining steel production. The Panamax Index (BPI) declined by 10 points, or 0.4%, to 2,511 points. Average daily earnings for Panamax vessels slipped by $94 to $22,597. The Supramax Index (BSI) rose by 5 points, or 0.3%, to 1,570 points. The Handysize Index (BHSI) increased by 2 points to 852 points.