FX.co ★ Baltic Dry Index Extends Pullback

The Baltic Exchange's dry bulk index, which monitors the cost of shipping dry commodities, continued its downward trend for the sixth straight session on Thursday, declining by 5.6% to reach its lowest level since November 21, settling at 2,294 points. This ongoing drop is attributed to the subdued seasonal demand. Furthermore, the capesize index, responsible for 150,000-ton cargoes such as iron ore and coal, also fell for the sixth consecutive day, dropping significantly by 8.3% to a two-week low of 3,927 points. Similarly, the panamax index, which handles 60,000-70,000 tons of coal or grain, decreased for the 11th consecutive day, declining by 2.3% to its lowest point since October 8, reaching 1,724 points. Among the smaller vessel classes, the supramax index fell by 18 points to 1,387.