Baltic Capesize Index falls 3.5% to $23,918 a day

Baltic Capesize Index falls 3.5% to $23,918 a day

The Baltic Capesize Index, which tracks rates for ships ferrying dry bulk commodities, experienced a significant decline on Friday, dropping 3.5% to an eight-week low of $23,918 a day. This marks the lowest level since late May, according to data from the Baltic Exchange.

The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, decreased by 3% to $2,614. Among smaller vessels, the supramax index fell by 0.1% to $1,386, while the panamax index, which usually carries about 60,000-70,000 tons of coal or grain cargo, increased by 0.4% to a one-month high of $1,792 [1].

Over the past week, the overall index dropped by 3.6%, and since the beginning of 2024, the Baltic Dry Index has decreased by 286 points or 13.66% [1]. Historically, the Baltic Exchange Dry Index reached an all-time high of 11,793 in May 2008. According to Trading Economics global macro models and analysts' expectations, the index is expected to trade at 2,150.86 points by the end of this quarter and 2,484.19 in 12 months' time [1].

In related news, DFDS A/S has signed a space charter agreement with TT Line covering freight and passengers in the Baltic Sea region. The agreement, set to become effective from October 1, 2025, will cover DFDS’s Klaipeda-Karlshamn route. This new arrangement aims to increase service frequency for customers and expand DFDS’s network in the Baltic Sea region [2].

References:
[1] https://tradingeconomics.com/commodity/baltic
[2] https://www.investing.com/news/stock-market-news/dfds-enters-baltic-sea-space-charter-agreement-with-tt-line-93CH-4210621