FX.co ★ Baltic Dry Index Edges Lower, Posts Monthly Loss

The Baltic Exchange's dry bulk index, which monitors the freight rates for dry commodity shipping vessels, experienced a halt in its two-day upward trajectory on Friday, experiencing a decrease of approximately 0.9% to 1,966 points due to widespread downturns across different vessel categories. The capesize index, primarily associated with 150,000-ton cargoes like iron ore and coal, decreased by 0.5% to 2,929 points, following two days of gains. Meanwhile, the panamax index, which typically handles 60,000-70,000 tons of coal or grain, fell by 1.5% to 1,821 points. Smaller vessels also faced declines, with the supramax index down by 0.8% to 1,326 points. Over the week, the benchmark index recorded a 1.3% decrease, culminating in a 7.9% drop for the month – the first monthly decrease noted since April.