FX.co ★ Baltic Dry Index Up for 3rd Day

The Baltic Exchange's dry bulk sea freight index, an indicator monitoring freight rates for vessels shipping dry commodities, increased for the third consecutive session on Tuesday. It gained 1 point, or 0.1%, reaching a new peak of 2,154 points since July 28. The capesize index, which is responsible for transporting large cargoes of around 150,000 tons, like iron ore and coal, climbed approximately 1.1%, hitting its highest level since August 18 at 3,189 points. Conversely, the panamax index, typically handling shipments of coal or grain ranging from 60,000 to 70,000 tons, decreased for the second straight session, dropping 1.8% to 1,968 points, marking a one-week low. Meanwhile, the supramax index dipped by 2 points to settle at 1,491 points.