FX.co ★ Baltic Dry Index Up for 3rd Day, Still Posts Weekly Loss

The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for dry commodities, continued its downward trend for the third consecutive day on Friday. It fell by approximately 2.1%, reaching a new low since June 4, with a closing value of 1,521 points, primarily impacted by the larger vessel segment. The capesize index, which is responsible for transporting substantial cargoes around 150,000 tons, such as iron ore and coal, decreased significantly by 5.3%, settling at 2,220 points. In contrast, the panamax index, which typically handles shipments of 60,000-70,000 tons of coal or grain, experienced a 1.5% rise to 1,490 points, marking its fifth consecutive day of gains. Additionally, the supramax index increased by 9 points, or 0.9%, to 1,009 points. Over the course of the week, the benchmark index recorded a decline of more than 8%, marking its second consecutive weekly drop.