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Market Update: Baltic Exchange Dry Index at 1-Week Low

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Market Update: Baltic Exchange Dry Index at 1-Week Low

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Market Update: Baltic Exchange Dry Index at 1-Week Low
The Baltic Dry Index extended losses for a third consecutive session to 3,119 on Tuesday, its lowest in a week, as commodity prices remain below recent highs and as China tries to temper rising commodity costs. The capesize, which tracks iron ore and coal cargos of 150,000-tonnes, slumped 4.3% to 3,783, its lowest since June 15th; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and iron ore, fell 2.1% to 3,432. In contrast, the supramax index was up 15 points to 2,840. source: Baltic Exchange [/s2If]
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