FX.co ★ Baltic Dry Index Rises for 3rd Day

The Baltic Exchange's dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a third consecutive session on Monday, gaining about 0.5% to 2,960 points, its highest level since June 5. The capesize index, covering ships that typically carry 150,000-ton cargoes such as iron ore and coal, also advanced for the third straight day, adding 1% to 4,702 points, its highest reading in more than a month. The supramax index edged up 0.1% to 1,707 points, its strongest level since June 22. In contrast, the panamax index, which reflects rates for vessels hauling about 60,000 to 70,000 tons of coal or grain, inched down 0.1% to 2,250 points.