FX.co ★ Baltic Dry Index Scales Over 9-Month High

The Baltic Exchange's dry bulk sea freight index, an essential barometer for shipping rates of dry goods, climbed for the sixth consecutive day on Thursday, reaching its peak since September 30 of last year at 2,030 points. This surge was primarily driven by a notable increase in the rates for larger vessels. The capesize index, which is responsible for transporting substantial cargoes like iron ore and coal (typically around 150,000 tons), also marked its sixth straight rise, leaping 14.4% to a one-month high of 3,021 points. Meanwhile, the supramax index experienced a 1.5% increase, reaching 1,335 points. Conversely, the panamax index, commonly utilized for carrying between 60,000 and 70,000 tons of coal or grain, declined for the second consecutive day, dropping 1.7% to 1,933 points.