FX.co ★ Baltic Dry Index Rises for 4th Day

The Baltic Exchange's dry bulk sea freight index, which monitors the shipping rates for vessels transporting dry commodities, experienced an uptick for the fourth consecutive day on Monday, climbing approximately 0.3% to reach its highest level since April 4, at 1,422 points. This increase is attributed to sustained demand for larger vessel sizes. The capesize index, known for handling 150,000-ton cargoes such as iron ore and coal, also saw its momentum continue, rising by 1% to reach its peak since April 3, at 2,300 points. On the other hand, the panamax index, typically associated with transporting 60,000 to 70,000 tons of coal or grain, declined for the eighth straight day, dropping approximately 1% to 1,107 points. The supramax index remained steady, maintaining a near four-week low at 951 points.