FX.co ★ Baltic Dry Index Breaks 2-Day Decline

The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for vessels carrying dry commodities, rebounded on Thursday with a 3% rise, reaching its highest mark since June 30 at 1,465 points. This bounce ended its two-day decline. The panamax index, associated with vessels typically transporting 60,000 to 70,000 tons of coal or grain, experienced a significant surge of 6.3%, achieving its peak since July 31 of the previous year at 1,723 points. Meanwhile, the supramax index climbed by 2.7% to settle at 1,182 points. In addition, the capesize index, indicative of ships usually transporting large cargoes around 150,000 tons such as iron ore and coal, ended its prolonged 17-day drop with a marginal increase of 0.6%, reaching 1,664 points.