FX.co ★ Baltic Dry Index Falls to Near 2-Week Low

The Baltic Exchange's dry bulk sea freight index, an important indicator that monitors the shipping rates for vessels carrying dry goods, declined for the second consecutive session on Tuesday. The index fell by approximately 3.3% to reach its lowest level since May 14, settling at 1,296 points, amidst a widespread reduction in demand. Specifically, the capesize index, which generally transports cargoes of around 150,000 tons, including iron ore and coal, decreased by 4.8% to 1,809 points. Similarly, the panamax index, which often carries between 60,000 and 70,000 tons of coal or grain, dropped by 3%, reaching its lowest point in over a month at 1,208 points. Additionally, among the smaller vessels, the supramax index fell by 9 points, marking its lowest position in over two weeks at 974 points.