FX.co ★ Baltic Dry Index at Over 1-Month Low, Posts Weekly Loss

The Baltic Exchange's dry bulk index, an essential metric for assessing the rates of vessels transporting dry commodities, declined for the third consecutive session on Friday. It fell by 2.3%, reaching its lowest point since November 5, with the index standing at 2,023 points. This drop is attributed to the typical seasonal decrease in demand. The capesize index, representing vessels that primarily carry 150,000-ton cargoes such as iron ore and coal, also saw a decline for the third day, decreasing by approximately 1.4% to a one-month low of 3,624 points. Similarly, the panamax index, which generally handles 60,000-70,000 tons of coal or grain, experienced its 17th successive drop, plummeting by 4.8% to 1,323 points, the lowest recorded since June 10. Meanwhile, smaller vessels tracked by the supramax index fell by 36 points to 1,222 points. Over the course of the week, the overall benchmark index registered a decrease of over 8%.