FX.co ★ Baltic Dry Index Snaps 2-Day Rise

The Baltic Exchange's dry bulk sea freight index, a key indicator for shipping rates of dry commodities, experienced a decline of 15 points, settling at 1,406 points on Tuesday. This decrease ends a two-day streak of rising figures and is primarily driven by downturns in the larger vessel categories. The capesize index, relevant for vessels typically transporting 150,000 tons of cargo such as iron ore and coal, saw a reduction of 42 points, bringing it to 2,037 points. Simultaneously, the panamax index, which monitors ships that generally carry 60,000 to 70,000 tons of coal or grains, fell by 8 points to 1,360 points. On the contrary, the supramax index recorded a slight increase, edging up by 2 points to reach 957 points.