The Baltic Exchange index fell due to a decrease in freight rates for capesize and panamax vessels, leading to a weekly decline in the index.

The Baltic Dry Index, a key indicator of dry bulk shipping rates, fell to its lowest level in over two weeks on Friday and recorded a weekly decline, as Capesize and Panamax vessel rates remained weak. The main index tracking Capesize, Panamax, and Supramax vessel rates dropped by 17 points to 1,299, a decrease of 1.29%, with a weekly decline of 8.6%. The index also touched its lowest level since April 22. The Capesize vessel rate index fell by 43 points to 1,709, a decrease of 2.45%, with a cumulative decline of over 17% this week. Capesize vessels typically transport 150,000 tons of cargo, such as iron ore and coal, and their average daily earnings decreased by $363 to $14,169. On Friday, iron ore futures traded narrowly. The Panamax vessel rate index dropped by 10 points, or 0.73%, to 1,353, with a cumulative decline of 1.1% this week. Panamax vessels typically carry 60,000-70,000 tons of coal or grains, and their daily average earnings decreased by $96 to $12,173. Meanwhile, due to companies rushing to avoid President Donald Trump's tariffs, container imports into the United States surged in April, but executives at the country's two busiest ports indicated that this trend might reverse in May. Among smaller vessels, the Supramax vessel rate index rose by 1 point to 969, a weekly increase of 1.5%.