FX.co ★ Baltic Dry Index Rises, Still Posts Weekly Drop

The Baltic Exchange's dry bulk sea freight index, which monitors the rates for vessels transporting dry commodities, rose for the second consecutive day on Friday, marking a 0.4% increase to reach 1,274 points. The capesize index, which is indicative of ships carrying substantial loads of 150,000 tons such as iron ore and coal, saw a consecutive increase, climbing 1.2% to settle at 1,803 points. On the other hand, the panamax index, typically associated with vessels transporting 60,000 to 70,000 tons of coal or grain, continued its decline for the ninth consecutive day, slipping by 0.3% to 1,186 points, while the supramax index decreased slightly by two points to 939 points. Over the week, the benchmark index experienced a notable drop of over 14%, reflecting apprehensions surrounding the persistent global trade tensions.