FX.co ★ Baltic Dry Index at Over 2-Week High

The Baltic Exchange's dry bulk sea freight index, a crucial metric for evaluating shipping rates of vessels transporting dry commodities, experienced a 3.1% surge on Wednesday, reaching its peak since April 8 at 1,300 points. This upturn was driven by positive movements across all vessel categories. Specifically, the capesize index, used for ships transporting 150,000-tonne loads such as iron ore and coal, saw a notable rise of 4.3%, bringing it to 1,732 points. Meanwhile, the panamax index, which typically monitors vessels carrying 60,000-70,000 tonnes of coal or grains, continued its upward trajectory for a sixth consecutive session, increasing by 3.2% to 1,333 points. Smaller vessel categories also showed gains, with the supramax index climbing 1.1% to reach a two-week high of 964 points.