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2025-09-15 21:15:41
[Shipping Market Heats Up: Dry Bulk Index Soars, Mega Vessels Lead the Rebound] (1) The dry bulk shipping market is showing renewed vigour. The Baltic Dry Index (.BADI), a measure of freight rates for various vessel types, rose for the second consecutive trading day on Monday, reaching 2,153 points, its highest point since July 28th. This was up 27 points, or 1.3%, from the previous day. The rise was primarily driven by a significant increase in freight rates for large dry bulk vessels (Capesize). The index (.BACI) surged 84 points, or 2.7%, to 3,154 points, reaching its highest point since August 18th. (2) Average daily earnings for large dry bulk vessels surged $699 to $26,156, reflecting strong demand for vessels carrying 150,000-tonne cargoes of commodities such as iron ore and coal. However, market sentiment was not entirely optimistic. Iron ore futures prices fell due to continued weakness in China's real estate sector, despite increases in steel benchmarks and steelmaking raw material prices. (3) The Panamax freight index (.BPNI) saw its previous upward trend end, falling 3 points, or 0.2%, to 2,003. Average daily earnings for Panamax vessels fell $29 to $18,027, indicating a diverging market for this vessel type. The Supramax freight index (.BSIS) rose 1 point, or 0.1%, to 1,493, highlighting the diverging performance of different vessel types.
