FX.co ★ Baltic Dry Index Extends Slide Into 6th Day

The Baltic Exchange's dry bulk index, a barometer for shipping rates on vessels carrying dry commodities, continued its downward trend for the sixth consecutive day on Monday. It dropped roughly 1.7%, reaching its lowest level since July of the previous year, now standing at 1,659 points as declines were noted across various vessel categories. The capesize index, representing ships that typically transport 150,000-ton cargoes like iron ore and coal, fell for the 13th consecutive day, decreasing by 2.5% to a six-month nadir of 2,574 points. Meanwhile, the panamax index, which usually handles loads of 60,000-70,000 tons of coal or grain, decreased by 0.4% to 1,340 points, breaking a seven-day upward trend. Additionally, the supramax index of smaller vessels saw a reduction of 7 points, bringing it to 960 points.