FX.co ★ Baltic Dry Index at Near 3-Week Low, Posts Monthly Loss

The Baltic Exchange’s dry bulk freight index, which tracks shipping rates for vessels transporting dry bulk commodities, fell for a second consecutive session on Tuesday, slipping 1.1% to 1,995 points, its lowest level in nearly three weeks. The capesize index, covering vessels that typically carry 150,000-ton cargoes such as iron ore and coal, also declined for a second day, dropping 1.9% to 2,947 points, a near one-week low. The supramax index edged down 1 point, or 0.1%, to 1,202 points. In contrast, the panamax index, reflecting rates for ships that usually transport 60,000 to 70,000 tons of coal or grain, inched up 0.1% to 1,744 points. Overall, the benchmark index posted a 12.2% decline in March, marking its first monthly loss of the year.