FX.co ★ Baltic Dry Index Rally Continues

The Baltic Exchange's dry bulk index, a benchmark for the pricing of vessel transportation of dry commodities, has continued its upward trajectory for the 15th consecutive day as of Wednesday. It surged by 9.4%, reaching a new high of 2,845 points not seen since December 2023. This increase also marks the strongest daily rise since October 13. The capesize index, known for transporting large cargoes like iron ore and coal, leapt by 16.3%, hitting a new peak of 5,384 points, also the highest since December 2023. Meanwhile, the supramax index saw a modest increase of 3 points, reaching 1,444 points. In contrast, the panamax index, which typically carries 60,000 to 70,000 tons of coal or grain, experienced a decline for the fifth consecutive session, dropping approximately 1.2% to 1,892 points.