FX.co ★ Baltic Dry Index Edges Down, But Climbs 20% in May

The Baltic Exchange dry bulk index, which tracks shipping rates for vessels transporting dry commodities, edged down 0.1% to 3,224 on Friday. The capesize index, reflecting rates for ships that typically carry 150,000-ton cargoes such as iron ore and coal, declined 0.3% to 5,503. By contrast, the panamax index, which measures rates for vessels that usually transport 60,000 to 70,000 tons of coal or grain, rose 0.5% to 2,343. The supramax index was unchanged at 1,569. Despite the slight pullback, the overall Baltic index still advanced 20% over the month of May.