FX.co ★ Baltic Dry Index Hits 1-Month High, Posts Weekly Gain

The Baltic Exchange's dry bulk index, which monitors shipping rates for vessels transporting dry commodities, experienced an uptick for a second consecutive day on Friday, marking a 2.3% increase to reach its highest level since October 13, closing at 2,125 points. Within this, the capesize index, often associated with the transportation of 150,000-ton cargoes such as iron ore and coal, also rose for the second day in succession, ascending by 3.8% to reach 3,252 points. Meanwhile, the panamax index, typically involved in carrying 60,000 to 70,000 tons of coal or grain, remained steady at 1,897 points, its peak since October 28. For smaller vessel categories, the supramax index saw a gain of 21 points, bringing it to 1,408 points. Over the week, the benchmark index showed a cumulative increase of approximately 1%.