Baltic Dry Index Down for 4th Day

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, retreated for a fourth session on Tuesday, dropping about 2.5% to a new low since September 2 at 3,360 points. The downward pressure came from larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, declined 3.8% to 5,687 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell 1.2% to 2,364 points. Conversely, the supramax index rose by 0.6% to 1,736 points.