FX.co ★ Baltic Dry Index Falls for 2nd Day

The Baltic Exchange's dry bulk index, an indicator that monitors the rates for vessels transporting dry commodities, experienced a decline for the second consecutive day on Friday, decreasing by 3.1% to 2,727 points. This downturn affected all vessel categories. The capesize index, which generally carries 150,000 tons of materials such as iron ore and coal, also decreased for a second session, falling by 4.4% to 5,083 points. Similarly, the panamax index, known for transporting 60,000-70,000 tons of coal or grain, dropped for the seventh consecutive day, losing 1.4% to settle at 1,837 points. Smaller vessels were not immune to this trend, as the supramax index dipped by five points, reaching 1,436 points. Despite these declines, the benchmark index recorded a weekly increase of 13.4%.