FX.co ★ Baltic Dry Index Up for 2nd Day

The Baltic Exchange’s dry bulk index, which measures freight rates for ships transporting dry commodities, rose for a second consecutive session on Thursday, gaining about 2.4% to reach 1,972 points, largely driven by strength in the larger vessel segment. The capesize index, reflecting rates for ships that typically carry 150,000-ton cargoes such as iron ore and coal, jumped 5.7% to 2,721 points, supported in part by higher iron ore prices. Meanwhile, the panamax index, which tracks vessels that usually transport 60,000 to 70,000 tons of coal or grain, inched up 0.2% to 1,835 points, while the supramax index declined 1.7% to 1,290 points.