FX.co ★ Baltic Dry Index Up for 10th Day

The Baltic Exchange's dry bulk index, an indicator monitoring shipping rates for dry commodities, marked its tenth consecutive increase on Wednesday, climbing by 3.4% to reach its highest point since March 2024, now standing at 2,401 points. This progression was bolstered by improvements across all vessel categories. The capesize index, which is typically associated with 150,000-tonne cargoes like iron ore and coal, surged by 7.2%, achieving an almost two-year peak at 3,998 points. Meanwhile, the panamax index, responsible for transporting between 60,000 to 70,000 tonnes of coal or grain, extended its upward trend for the sixth consecutive day, with a subtle rise of 0.4% to 1,965 points. Among smaller vessels, the supramax index saw a modest increase of 0.3%, bringing it up to 1,435 points.