FX.co ★ Baltic Dry Index Advances for 3rd Day

The Baltic Exchange's dry bulk index, which monitors the rates for ships ferrying dry commodities, rose for the third consecutive day on Thursday, increasing by 3% to reach 2,063 points, its highest level since October 22. This boost was driven by increased rates across all sectors. The capesize index, which primarily hauls large cargoes around 150,000 tons of commodities like iron ore and coal, surged for the third session, climbing 5.1% to a peak not seen in over three weeks at 3,242 points. Meanwhile, the panamax index, known for carrying loads of 60,000 to 70,000 tons of coal or grain, increased by 1.3% to 1,817 points, continuing its upward momentum for the second session. Among smaller vessel categories, the supramax index edged up by 0.4% to reach 1,312 points.