FX.co ★ Baltic Dry Index Bullish Momentum Continues

The Baltic Exchange's dry bulk index, which monitors the freight rates for ships carrying dry commodities, continued its upward momentum for the 11th straight session on Thursday, climbing by 3.3% to reach its highest point since December 2023, now at 2,480 points. The increase was predominantly driven by the larger-sized vessel category. Notably, the capesize index, responsible for transporting approximately 150,000-ton cargoes such as iron ore and coal, experienced a significant rise of 6%, reaching a near two-year high of 4,236 points. Concurrently, the supramax index saw a minor uptick of 0.1%, settling at 1,437 points. Conversely, the panamax index, which typically transports 60,000-70,000 tons of coal or grain, experienced a slight decline, dropping by 0.2% to 1,962 points, thereby ending a streak of six consecutive increases.