Worst year since 2014 for Baltic Dry Index

The Baltic Exchange's dry bulk sea freight index inched up on Tuesday but recorded its worst year since 2014, hurt by weaker rates across all vessel segments.

The Baltic report will not be published until January 2, 2025 due to post-Christmas and New Year holidays.

The index edged up three points to 997 points. It fell 52.5 per cent this year.

The Capesize index rose 15 points to 1,147 points. The contract was down 66.7 per cent for the year. Average daily earnings for Capesize vessels increased by $128 to $9,516.

Iron ore futures prices gained for a second straight session on Tuesday, supported by pre-holiday restocking by steelmakers and revived hopes of stimulus in top consumer China.

The Panamax index rose eight points to 988 points, but has slumped 48.7 per cent this year.

Average daily earnings for Panamax vessels rose $68 to $8,888.

Among smaller vessels, the supramax index was down nine points at 923 points, its lowest level since August last year. The index fell 32 per cent this year.

(Reporting by Anmol Choubey in Bengaluru; Editing by Sahal Muhammed)