The Baltic Dry Freight Rate Index, which tracks the rates of ships carrying dry cargo, has decreased for the second consecutive day on November 4, 2026, reaching 2590 points, the lowest level since October 19.
Decline in Various Shipping Sectors
The decrease in freight rates has been observed across all shipping sectors, particularly in large vessels. The capesize index, which typically carries 150,000-tonne cargoes such as iron ore and coal, has also decreased for the second consecutive day, reaching 3821 points, the lowest level in the past week. This decline is likely due to falling iron ore prices and increased supply from major suppliers, along with weak demand for this commodity.
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Chaos in the Panamax and Supramax Shipping Markets
Meanwhile, the panamax index, which typically carries 60,000 to 70,000-tonne cargoes of coal or grains, has decreased by 0.4% to 1866 points, the lowest level since April 13, continuing its downward trend for 15 consecutive sessions. Additionally, the supramax index has also decreased by 0.5% to 1846 points, the lowest level since October 14.
This downward trend in the maritime transport market indicates significant challenges that shipowners and suppliers are currently facing. With sharply falling prices and increased supply, the market is experiencing severe fluctuations that could negatively impact the revenues of shipping companies.
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