FX.co ★ Baltic Dry Index at Near 2-Week Low

The Baltic Exchange's dry bulk sea freight index, which monitors rates for ships transporting dry commodities, decreased by 32 points to a near two-week low of 1,374 points on Wednesday, primarily influenced by the larger ship segment. Specifically, the Capesize index, responsible for moving 150,000-ton shipments such as iron ore and coal, fell by 102 points, landing at 1,935 points. Conversely, the Panamax index, which tracks ships carrying 60,000 to 70,000 tons of coal or grain, edged up by 2 points to reach 1,362 points. Meanwhile, the Supramax index saw an increase of 4 points, reaching 961 points. According to a weekly note from shipbroker Allied, "The United States continues to be an essential center for the global dry bulk trade, with ports notably along the Gulf Coast, East Coast, and Great Lakes handling substantial quantities of coal, grain, and iron ore."