FX.co ★ Baltic Dry Index at Near 1-Month High

The Baltic Exchange's dry bulk sea freight index, an indicator of shipping rates for vessels transporting dry commodities, experienced an increase of approximately 0.8%, reaching 1,421 points, the highest level since April 4. This rise was driven by the capesize index, which tracks ships that carry 150,000-ton cargoes such as iron ore and coal, climbing 1.8% to 2,079 points. Conversely, the panamax index, which generally monitors vessels carrying 60,000-70,000 tons of coal or grains, saw a decline of six points, settling at 1,368 points. Meanwhile, the supramax index dipped by one point, landing at 955 points. Overall, the benchmark index recorded a weekly increase of 3.5%.