FX.co ★ Baltic Dry Index Falls for 3rd Day

The Baltic Exchange's dry bulk index, a benchmark for freight rates across vessels carrying dry commodities, declined for the third consecutive session on Wednesday, falling by approximately 2% to settle at its lowest level since November 5, at 2,030 points. This downturn is driven by persisting weaknesses in the larger vessel segment. Specifically, the capesize index, which is commonly used to transport 150,000-ton cargos such as iron ore and coal, decreased for the third straight day, dropping by 5.3% to its lowest point since November 4, at 3,023 points. In contrast, the panamax index, generally tasked with carrying between 60,000 and 70,000 tons of coal or grain, increased for the sixth consecutive day, climbing by 1.2% to a peak not seen in over two weeks, at 1,887 points. Additionally, the supramax index grew by 21 points, reaching 1,365 points.