Baltic Dry Index at Over 3-Month Low

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, fell about 1.3% to a fresh low since June 30 at 2,515 points on Friday, marking its tenth consecutive daily decline. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, fell further, slipping 2.2% to its lowest since early April at 3,249 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell 1.8% to 2,314 points. Among smaller vessels, the supramax went up by 0.5% to 1,865 points. The benchmark index fell about 14% over the week, extending its losing streak to three consecutive weeks.