FX.co ★ Baltic Exchange Dry Index Jumps 20% on the Week

The Baltic Exchange's dry bulk sea freight index, a key indicator for shipping rates of dry goods, gained momentum with a 3.4% rise, reaching 1,968 points on Friday, marking its highest point since October. The capesize index, significant for its capacity to transport large 150,000-ton shipments such as iron ore and coal, experienced a notable increase of 4.7% to 3,722 points, the highest since July. Meanwhile, the panamax index, known for carrying 60,000-70,000 tons of coal or grain, advanced by 1.9%, reaching a two-month high of 1,401 points. Among smaller vessel categories, the supramax index rose modestly by 3 points, achieving its highest level in nearly a week at 936 points. Over the week, the Baltic index saw a significant surge of 20.5%.