According to the latest data, the Baltic Dry Index (BDI, Financial) reached 2,110 points on September 27, 2024, marking a new high since July 2024 and registering a 0.91% increase from the previous value. This also represents the seventh consecutive day of gains.
The Panamax Freight Index (BPI) fell by 3.47% to 1,446 points, while the Capesize Freight Index (BCI) rose by 3.04% to 3,689 points. The Supramax Shipping Index (BSI) dropped by 0.61% to 1,306 points.
The Baltic Dry Index continued its upward trend on Friday, marking its second consecutive weekly rise, driven by growth in the Capesize vessel market. The combined Capesize, Panamax, and Supramax indices increased by 19 points to 2,110 points, the highest in nearly three months.
This index recorded a more than 5% increase for the week, the best weekly performance since early September 2024. The Capesize Freight Index rose by 109 points to 3,689 points, the highest since early July 2024. Capesize vessels, which typically transport 150,000 tons of cargo such as iron ore and coal, saw their average daily earnings increase by $908 to $30,598.
The Panamax Freight Index declined by 52 points, or 3.5%, to 1,446 points. Panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, experienced a drop in average daily earnings by $471 to $13,013.
Iron ore futures prices rose for the fourth consecutive day, with a weekly gain expected to exceed 10%, driven by China's interest rate cuts and anticipated further fiscal and real estate stimulus measures.
Among smaller vessels, the Supramax Shipping Index fell by 8 points to 1,306 points.
