The Baltic Exchange’s dry bulk sea freight index slipped on Tuesday, snapping six straight sessions of gains, due to a fall in prices across all vessel segments.
The main index, which monitors rates for capesize, panamax and supramax shipping vessels, fell by five points to 1,398.
The capesize index shed two points to 1,978.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $12 to $16,408.
Dalian iron ore futures edged higher, supported by near-term demand in top consumer China, although gains were limited by conflicting statements from Washington and Beijing over trade negotiations.
The panamax index was down six points at 1,389.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, dropped $51 to $12,504.
“We anticipate that the supply and demand balance for the dry bulk market this year will be weaker compared to 2024. The demand for iron ore and coal is expected to remain weak, and the outlook for minor bulks has deteriorated following the U.S. tariff increases,” Filipe Gouveia, a shipping analysis manager at BIMCO, said
U.S. President Donald Trump had announced sweeping tariffs across sectors on April 2, later granting a 90-day pause that will end on July 8. Traders await as the U.S. administration holds negotiations with various countries.
Among smaller vessels, the supramax index fell eight points to 967.
Source: Reuters
