FX.co ★ Baltic Dry Index Up to Near 2-Week High

The Baltic Exchange's dry bulk sea freight index, an indicator that monitors shipping rates for transporting dry commodities, continued its upward trajectory for the second consecutive day, climbing approximately 3.8% to reach its peak since May 16 at 1,353 points. This rise is fueled by sustained demand in the larger vessel segment. Specifically, the capesize index, which typically handles cargoes of 150,000 tons such as iron ore and coal, surged by 9.9% to its highest mark since May 2, reaching 2,059 points. Conversely, the panamax index, responsible for carrying loads of 60,000-70,000 tons of coal or grain, declined for the sixth consecutive session, falling about 2.7% to a more than two-month low of 1,137 points. Additionally, the supramax index experienced a slight decrease of eight points, settling at a near four-week low of 956 points.