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

The Baltic Exchange's dry bulk index, a key indicator for tracking shipping rates of dry commodities, experienced an uptick for the third consecutive day on Tuesday. The index rose by 4.8%, reaching a peak not seen since January 7, at 1,729 points. Notably, the capesize index, which is predominantly used for transporting substantial cargoes of 150,000 tons such as iron ore and coal, also recorded its third day of gains, increasing by 7% to reach 2,570 points. Similarly, the panamax index, which typically handles cargoes of 60,000 to 70,000 tons of coal or grain, climbed by 3.2% to 1,570 points. Additionally, the supramax index for smaller vessels edged up 13 points, bringing it to 983 points.