FX.co ★ Baltic Dry Index Down for 2nd Day

The Baltic Exchange's dry bulk sea freight index, a key indicator for shipping rates of dry commodities, saw a decline for the second consecutive day on Tuesday, slipping by approximately 0.5% to reach 1,340 points. This drop is attributed to decreased demand in the segment of larger vessels. Specifically, the capesize index, which accounts for vessels transporting large cargoes such as iron ore and coal (typically around 150,000 tons), decreased by about 1% to land at 1,863 points. In contrast, the panamax index—monitoring vessels that carry between 60,000 to 70,000 tons, primarily of coal or grains—experienced a modest increase of 0.1%, reaching 1,294 points. Additionally, the supramax index saw a slight uptick, gaining 2 points to settle at 982 points.