FX.co ★ Baltic Dry Index at Over 3-Week Low

The Baltic Exchange's dry bulk index, an indicator monitoring freight rates for ships carrying dry commodities, experienced a decline for the second consecutive session on Monday. It fell by approximately 1.1% to reach its lowest level since October 10, settling at 1,945 points, amid decreasing rates across all vessel categories. The capesize index, which usually handles cargoes of around 150,000 tons like iron ore and coal, dropped for a second consecutive day, decreasing by 1.4% to 2,888 points. Similarly, the panamax index, responsible for transporting 60,000-70,000 tons of coal or grain, decreased by 1.1% to land at 1,801 points, marking its sixth consecutive session of decline. In the case of smaller vessels, the supramax index saw a minor drop of 6 points, or 0.5%, settling at 1,320 points.