FX.co ★ Baltic Dry Index Downward Trend Continues, Posts Weekly Loss

The Baltic Exchange's dry bulk index, which measures rates for ships transporting dry goods, experienced a downturn for the seventh consecutive day on Friday, dropping by 3.9% to its lowest level since November 17, at 2,205 points. The capesize index, responsible for carrying 150,000-ton shipments like iron ore and coal, also saw its seventh consecutive decline, falling 5.6% to its lowest point since November 24, at 3,706 points. Similarly, the panamax index, used for 60,000-70,000-ton cargos of coal or grain, decreased for the 12th straight session, recording a 2.1% drop to a more than two-month low of 1,688 points. Among smaller vessels, the supramax index dropped by 16 points to settle at 1,371 points. Overall, the benchmark index suffered a weekly loss of 15.9%, marking its most significant decline since January 20.