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

The Baltic Exchange’s dry bulk index, which measures freight rates for vessels transporting dry commodities, fell for a third consecutive session on Friday, dropping 6% to 2,010 points — its lowest level since February 11. The decline was broad-based across all vessel classes, as disruptions to maritime traffic stemming from the conflict in the Middle East weighed on rates. The capesize index, which tracks ships typically carrying 150,000-ton cargoes such as iron ore and coal, tumbled 10.8% to a one-month low of 2,631 points. The panamax index, covering vessels that usually transport 60,000 to 70,000 tons of coal or grain, slipped 1.8% to 1,962 points. Among the smaller segments, the supramax index edged down 0.4% to 1,386 points. Over the week, the benchmark dry bulk index lost approximately 6.1%.