FX.co ★ Baltic Dry Index Continues to Fall

The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels carrying dry cargoes, declined for the fourth consecutive session on Friday, slipping by approximately 1.2% to reach a new low of 1,602 points, a nadir not seen since March 12. The capesize index, which is responsible for transporting 150,000-ton shipments such as iron ore and coal, also saw its fourth consecutive decrease, dropping 2.2% to 2,472 points. Simultaneously, the supramax index continued its downward trajectory, losing 12 points to settle at 995 points. Conversely, the panamax index, which generally includes ships accommodating 60,000-70,000 tons of coal or grain, increased by about 0.9% to reach a peak of 1,497 points. Overall, the benchmark index dipped roughly 2.5% over the week, marking its second consecutive weekly decline.