FX.co ★ Baltic Dry Index Extends Rally Into 6th Day

The Baltic Exchange's dry bulk sea freight index, a barometer for the shipping rates of vessels transporting dry commodities, rose for the sixth consecutive day on Wednesday, increasing by approximately 4.1% to reach its highest level since April 4, at 1,489 points. This surge was primarily driven by gains among larger vessels. The capesize index, which typically carries 150,000-ton cargoes like iron ore and coal, also rose for the sixth straight session, climbing 6.3% to its highest level since March 27, at 2,481 points. Meanwhile, the panamax index, which generally transports 60,000-70,000 tons of coal or grain, saw its second day of increases, advancing by 3.3% to a one-week peak of 1,145 points. Among smaller vessels, the supramax index fell by two points, reaching a new low since April 15, at 940 points.