FX.co ★ Baltic Dry Index Slips for 12th Day

The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for vessels transporting dry commodities, continued its downward trajectory for the 12th straight day on Wednesday, dropping approximately 6.2% to its lowest point since March 5, closing at 1,359 points. This sustained decline reflects ongoing trade tensions impacting demand across all vessel types. Specifically, the capesize index, responsible for transporting sizable 150,000-ton cargoes such as iron ore and coal, also marked its 12th consecutive decrease, falling over 9% to a six-week low of 1,732 points. Similarly, the panamax index, which gauges vessels typically carrying 60,000-70,000 tons of coal or grain, continued its seven-day losing streak, declining about 5.9% to reach a low of 1,203 points, a level not seen since March 12. According to Yiannis Parganas, Head of Research at Intermodal, "A combination of low demand for commodities, particularly coal destined for China, alongside iron ore and grains, is exerting pressure on earnings." Additionally, the supramax index, which tracks smaller vessels, saw a decrease of 0.6%, reaching a nearly one-month low of 948 points.