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

The Baltic Exchange's dry bulk sea freight index, a key measure of shipping rates for vessels transporting dry commodities, saw a decline for the second consecutive day on Tuesday, decreasing by 1% to 2,017 points, largely influenced by the performance of larger vessel categories. The capesize index, representing ships that typically carry about 150,000 tons of cargo such as iron ore and coal, experienced a drop for the second session in a row, down 1.7% to 3,261 points. Similarly, the panamax index, which generally handles cargoes between 60,000 and 70,000 tons, primarily coal or grain, continued its downward trend for the third day, slipping by 1.2% to 1,595 points. On a more positive note, the supramax index, associated with smaller vessels, increased for the eighth consecutive session, rising by 0.3% to reach 1,329 points.