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

The Baltic Exchange’s dry bulk freight index, which measures rates for vessels transporting dry bulk commodities, rose for a second consecutive session on Friday, adding about 1% to reach 3,370 points. The capesize index, reflecting earnings for ships that typically carry 150,000-ton cargoes such as iron ore and coal, climbed 2% to 5,768 points, while the supramax index inched up 0.3% to 1,767 points. In contrast, the panamax index, which generally tracks vessels hauling 60,000 to 70,000 tons of coal or grain, extended its losing streak, slipping 1.4% to 2,251 points. On a weekly basis, the benchmark index was down nearly 4%.