FX.co ★ Baltic Dry Index Extends Rally Into 5th Day

The Baltic Exchange's dry bulk sea freight index, an important indicator of shipping rates for vessels carrying dry commodities, climbed for the fifth consecutive day on Wednesday. It increased by approximately 1.6% to reach its highest level since July 28, ending at 2,112 points. This upward movement was driven by gains in rates for larger vessel categories. Specifically, the capesize index, which caters to the transportation of large cargoes such as iron ore and coal (typically around 150,000 tons), rose by 1.8% to a level of 3,071 points, marking a peak not seen in over three weeks. Similarly, the panamax index, associated with vessels that generally haul between 60,000 and 70,000 tons of coal or grain, advanced by 2.7%, reaching its highest point since July 15 at 1,975 points. Meanwhile, within the smaller vessel category, the supramax index gained 5 points, or 0.3%, to settle at 1,478 points.