FX.co ★ Balti Dry Index Extends Losses, Still Posts Monthly Gain

The Baltic Exchange's dry bulk sea freight index, an indicator tracking shipping rates for vessels transporting dry commodities, experienced a decline for the third consecutive session on Tuesday. It dropped by 86 points to reach its lowest level since September 12, settling at 2,134 points, amid widespread decreases across vessel segments. The capesize index, which is typically associated with transporting large cargoes of around 150,000 tons, such as iron ore and coal, fell by 219 points to a near two-week low of 3,305 points. Similarly, the panamax index, generally used for shipping 60,000 to 70,000 tons of coal or grain, decreased by 42 points to sit at a near one-month low of 1,776 points. Among the smaller vessel categories, the supramax index declined by 5 points, reaching its lowest point since September 8 at 1,473 points. Notably, the benchmark index witnessed a 5.4% increase over the course of September and surged by 43.3% during the third quarter.