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

The Baltic Exchange's dry bulk sea freight index, which monitors shipping rates for vessels carrying dry commodities, experienced an uptick for the second consecutive day on Monday. It climbed approximately 1.3%, reaching 2,153 points, the highest level since July 28, driven by gains in the larger vessel category. The capesize index, focusing on vessels typically transporting 150,000-ton cargoes like iron ore and coal, surged by 2.7%, attaining its peak since August 18 at 3,154 points. In contrast, the supramax index saw a modest increase of 0.1% to 1,493 points. On the other hand, the panamax index, which generally carries 60,000-70,000 tons of coal or grain, dipped by 0.2% to 2,003 points, following seven days of continuous growth.