FX.co ★ Baltic Dry Index Extends Fall to 6-Week Low

The Baltic Exchange's dry bulk sea freight index, which monitors shipping rates for vessels transporting dry commodities, has declined for the second consecutive day as of Wednesday. The index dropped approximately 1.7%, reaching its lowest point since March 5 at 1,241 points, with larger vessel categories experiencing the most significant pressure. Specifically, the capesize index—representing ships carrying 150,000-ton loads such as iron ore and coal—also fell for a second day, decreasing by 5.5% to 1,656 points. Intermodal noted that tariff tensions between the U.S. and China have disrupted American coal exports, particularly affecting metallurgical coal, thus prompting producers to explore new markets while China turns to established suppliers to compensate for the absence of the 10.7 million tons of U.S. coal exported in 2024. In contrast, the panamax index, which tracks vessels typically transporting 60,000-70,000 tons of coal or grain, rose for a third consecutive day, gaining 30 points to a new one-week high of 1,238 points. Additionally, the supramax index increased by 0.6%, reaching 943 points.