FX.co ★ Baltic Dry Index Down for 8th Day

The Baltic Exchange's dry bulk index, an indicator measuring the rates for shipping dry commodities, declined for the eighth consecutive session on Monday, decreasing by 0.5% to reach its lowest point since November 17, now at 2,193 points. The panamax index, which generally accommodates 60,000-70,000 tons of materials like coal or grain, experienced its 13th consecutive decline, falling by 2.6% to a four-month low of 1,644 points. This decrease is likely linked to the downturn in iron ore prices. Concurrently, the supramax index dropped by 11 points, settling at 1,360 points. On a different note, the capesize index, tasked with transporting larger cargoes of around 150,000 tons such as iron ore and coal, ended its seven-day losing streak by rising approximately 0.4% to 3,179 points.