FX.co ★ Baltic Dry Index Snaps 2-Day Advance

The Baltic Exchange's dry bulk sea freight index, an indicator of shipping rates for vessels carrying dry commodities, experienced a decrease of approximately 3%, settling at 1,347 points on Monday. This decline ended a two-day run of gains, primarily driven by downward pressure in the larger vessel segment. The capesize index, which is responsible for transporting 150,000-ton cargoes such as iron ore and coal, fell by about 6% to 1,888 points, presumably reflecting a drop in iron ore prices. Conversely, the panamax index, typically associated with ships transporting 60,000-70,000 tons of coal or grains, saw a slight increase of 0.2%, reaching 1,293 points. Additionally, the supramax index edged up by 2 points, reaching 980 points.