FX.co ★ Baltic Dry Index at Over 1-Week High

The Baltic Exchange's dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a third consecutive session on Thursday, gaining about 3.4% to 2,650 points—its highest level since June 24—supported by strength in larger vessel segments. The capesize index, covering ships that typically carry 150,000-ton cargoes such as iron ore and coal, advanced 6.2% to 3,291 points, also marking a third straight increase, driven by stronger cargo activity on key iron ore routes from Australia and Brazil. However, buying by Chinese steel mills was partially constrained by domestic restrictions on certain Fortescue shipments. Meanwhile, the panamax index, which reflects rates for vessels that usually haul about 60,000 to 70,000 tons of coal or grain, rose 0.8% to 2,195 points, and the supramax index inched up 0.1% to 1,675 points.