24.06.202613:07:58UTC+00Baltic Dry Index Down for 3rd Day

The Baltic Exchange's dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, declined for a third consecutive session on Wednesday, slipping about 1.2% to 2,634 points, its lowest level since April 20. The capesize index, reflecting rates for vessels typically carrying 150,000-ton cargoes such as iron ore and coal, fell about 2.4% to 3,950 points, the weakest reading since June 18. The supramax index also edged lower, down 0.7% to 1,693 points. In contrast, the panamax index, which measures rates for ships that usually transport 60,000 to 70,000 tons of coal or grain, rose 1.3% to 2,071 points. Shipbroker Allied observed that although the dry bulk and product tanker segments have shown early signs of recovery, overall market activity remains below long-term norms as participants gauge the resilience of the current US-Iran framework.