FX.co ★ Baltic Dry Index Falls for 2nd Day, Posts Monthly Loss

The Baltic Exchange's dry bulk sea freight index, a key indicator for shipping rates of dry commodities, fell for the second consecutive day on Wednesday, decreasing by 12 points to settle at 1,386. This decline was reflected across all vessel categories. Specifically, the capesize index, which monitors carriers of large cargoes such as iron ore and coal weighing up to 150,000 tons, dropped by 17 points to reach 1,961. Meanwhile, the panamax index, associated with vessels transporting 60,000 to 70,000 tons of coal or grains, slipped by 9 points to 1,380. Additionally, smaller vessels were not immune to this trend, with the supramax index falling by 10 points to 957, marking its third consecutive drop. Over the course of April, the overall index saw a reduction of approximately 13.3%.