Baltic Dry Index Slide Continues for Fourth Consecutive Week

The Baltic Exchange’s dry bulk sea freight index booked its fourth consecutive weekly decline as rates slid across vessel segments, taking it to another six-month low on Friday. Dalian and Singapore iron ore futures fell again as demand prospects in top steel producer China deepen with the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan. The BDI index saw a weekly loss of 5.3% on the week, following last week’s nearly 18% fall. The BDI … Continue reading “Baltic Dry Index Slide Continues for Fourth Consecutive Week”

Sea Freight Rates Continue to Slide, BDI at Six Month Low as China Woes Mount

The Baltic Exchange’s dry bulk sea freight index booked its worst week in over two months, taking it to a six-month low on Friday. Rates across component vessel segments were down hard. China’s woes deepen with the Chinese ailing property sector, COVID-19 curbs, steel production cuts and tensions over Taiwan, which were heighten by US speaker’s visit there and China sending missiles into Japanese waters. The BDI index saw a weekly loss of nearly 18%. The BDI factors in rates … Continue reading “Sea Freight Rates Continue to Slide, BDI at Six Month Low as China Woes Mount”

Baltic Sea Freight Index Falls to Five Month Low Down 15.4% for July.

The Baltic Exchange’s dry bulk sea freight index booked its worst month since January on Friday with rates across component vessel segments down double digits for the month. The BDI factors in rates for capesize, panamax and supramax shipping vessels, fell 50 points Friday, or 2.6%, to 1,895 points, its lowest in over five months. The capesize index, which had been the relative bright spot by outweighing falls in other vessel segments, lost 109 points, or nearly 5%, to a … Continue reading “Baltic Sea Freight Index Falls to Five Month Low Down 15.4% for July.”

Baltic Sea Freight Index Rises as Capesize Rates Gain 29% for the Week on Iron Ore and Coal Demand

The Baltic Exchange’s dry bulk sea freight index rose 140 points Friday, or nearly 7%, at 2,150 points, its highest since July 4, rising 4% for the week. The BDI was helped by capesize rates outweighing falls in other vessel segments. The capesize index gained 29% for the week, rising 462 points, or 18.8%, to 2,919 points, its highest since June 20. Iron ore exports from Brazil and demand for coal from Colombia and South Africa in Europe have been … Continue reading “Baltic Sea Freight Index Rises as Capesize Rates Gain 29% for the Week on Iron Ore and Coal Demand”

Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January

The Baltic Exchange’s dry bulk sea freight index rose 54 points, or nearly 2.5% to 2,240 points on the last day of June but still slid 12.7% for the month and fell 5% for the quarter. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index fell 8.8% for the month but had a 38.3% quarterly gain. The panamax index was down for three consecutive months dropped 13.5% in June and down 20.9% for the … Continue reading “Baltic Sea Freight Index 12.7% Decline for June, First Monthly Drop Since January”

Baltic Sea Freight Index Fell Another 9.6% This Week as the Capesize index plunged 19.8%

The Baltic Exchange’s dry bulk sea freight index slid another 9.6% this week. Iron ore prices did edge higher after a record 10-session slide, however fell for the week with the Singapore benchmark down on renewed concerns over demand in China with fresh COVID-19 alerts and shut-ins. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index plunged 19.8% this week, its worst drop since May 27. The panamax index was down 5.8% for the … Continue reading “Baltic Sea Freight Index Fell Another 9.6% This Week as the Capesize index plunged 19.8%”

Baltic Sea Freight Index Plunged Another 12% This Week for Third Weekly Loss as Iron Ore Falls.

The Baltic Exchange’s dry bulk sea freight index slid 12% this week, its third straight weekly decline. Iron ore prices fell for the week with the Singapore benchmark down on renewed concerns over demand in China with fresh COVID-19 alerts and shut-ins. The BDI pressure came again from falling rates across smaller vessel segments. The capesize index plunged 19% this week. The panamax index fell the least, down 7.8%. Baltic Exchange Dry Index (BDI) Segments June 10, 2022) The Baltic … Continue reading “Baltic Sea Freight Index Plunged Another 12% This Week for Third Weekly Loss as Iron Ore Falls.”

Baltic Sea Freight Index Plunged 19.8% After Six Week Rally Breaks

The Baltic Exchange’s dry bulk sea freight index slid 19.8% this week, heading for its first weekly fall in seven. The BDI had risen for sixth consecutive weeks to an eight-week high prior to the week. Pressure came again from falling rates across all its vessel segments. The capesize index plunged 19% to 2,818 points after rising 14.7% and 36.4% the past fortnight. The panamax index fell the least, down 2.9%. Baltic Exchange Dry Index (BDI) Segments (May 28, 2022) … Continue reading “Baltic Sea Freight Index Plunged 19.8% After Six Week Rally Breaks”

Baltic Sea Freight Index Higher for Sixth Straight Week as Benchmark Iron Ore Futures Surged

The Baltic Exchange’s dry bulk sea freight index rose 7.7% for the week. The BDI rose for the sixth consecutive weekly gain and to an eight-week high. Pressure came again from rising rates for capesize and supramax vessels. The capesize index rose another 14.7% after rising 36.4% last week, also its sixth consecutive weekly gain. The panamax index also rose, for the third week in a row. Benchmark iron ore futures in Dalian and Singapore surged Friday, adding to weekly … Continue reading “Baltic Sea Freight Index Higher for Sixth Straight Week as Benchmark Iron Ore Futures Surged”

Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%

The Baltic Exchange’s dry bulk sea freight index rose 14.2% for the week. The BDI rose for the fifth consecutive weekly gain and to a seven-week high. Pressure came again from rising rates for capesize and supramax vessels. The capesize index rose 36.4%, also its fifth consecutive weekly gain. The panamax index also rose, for the second week in a row. There was fresh activity in the grain market, Algeria’s state grains agency OAIC is believed to have purchased a … Continue reading “Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%”