FX.co ★ Baltic Dry Index Continues to Ease, Still Books Monthly Gain

The Baltic Exchange's dry bulk sea freight index, a key indicator tracking the freight rates for vessels that transport dry commodities, experienced a decline for the fourth straight day on Monday, dropping by approximately 2.1% to reach a new low of 1,489 points, the lowest since June 4. This is largely attributed to persisting weaknesses in the larger vessel segment. The Capesize index, which typically caters to cargoes of around 150,000 tons, including commodities like iron ore and coal, fell for the tenth consecutive session, plunging 4.9% to its lowest point since May 29, at 2,111 points. In contrast, the Panamax index, which generally transports 60,000 to 70,000 tons of coal or grain, increased by 0.7% to reach its highest point since March 31, at 1,500 points, continuing its upward trend for the sixth day. Additionally, the Supramax index climbed by 3 points, or 0.3%, reaching its highest level since March 26, at 1,012 points. While the benchmark index rose over 7% in June, it saw an approximate 8% decline over the quarter.