FX.co ★ Baltic Dry Index Eases for 2nd Day

The Baltic Exchange's dry bulk sea freight index, which monitors shipping rates for vessels transporting dry commodities, declined for the second consecutive day on Wednesday. It fell by approximately 0.5%, reaching its lowest level since March 12, at 1,634 points, due to persistent weaknesses in the larger vessel segment. The capesize index, which encompasses vessels carrying cargoes of 150,000 tons such as iron ore and coal, also recorded a decrease for the second day in a row, slipping by 1.9% to its two-week low of 2,581 points. In contrast, the panamax index, associated with vessels typically transporting 60,000-70,000 tons of coal or grain, experienced an uptick of around 2.3%, reaching a new five-month high of 1,456 points. Meanwhile, the supramax index remained relatively steady at 1,014 points.