Baltic dry index falls back

The Baltic Exchange's main sea freight index, a benchmark for global dry bulk shipping rates, has pulled back from a two-year peak, retreating for three consecutive sessions as weakness spread across all vessel segments.

On May 19, the overall index, which comprises rates for Capesize, Panamax and Supramax vessels, fell by 38 points, or 1.2%, from the previous session to settle at 3,054 points, the lowest level in a week. The decline came after the index had touched an over two-year high of