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

The Baltic Exchange's dry bulk sea freight index, which monitors shipping rates for dry commodities, decreased for the second consecutive day on Wednesday. It dropped by approximately 0.6%, hitting its lowest point since June 2, at 1,423 points. This decline is attributed to the continued reduction in rates for larger vessel segments. Specifically, the capesize index—commonly used for transporting large 150,000-ton shipments like iron ore and coal—fell for the 17th straight day, decreasing by roughly 5.5% to 1,654 points. Conversely, the panamax index, responsible for transporting 60,000 to 70,000 tons of coal or grain, climbed by 3.3% to reach its highest level since August 7 of the previous year, at 1,621 points. Additionally, the supramax index experienced a 2.3% increase, reaching 1,151 points.