FX.co ★ Baltic Dry Index Eases for 3rd Day, Posts Weekly Loss

The Baltic Exchange's dry bulk sea freight index, a key measure of shipping rates for vessels transporting dry commodities, experienced a decline for the third consecutive day on Friday. It decreased by approximately 1.3%, reaching its lowest point since April 22, at 1,299 points. The capesize index, associated with the movement of 150,000-ton shipments such as iron ore and coal, fell by around 2.5% to 1,709 points. Similarly, the panamax index, which typically monitors the rates for ships carrying loads of 60,000 to 70,000 tons of coal or grains, saw a 0.7% decline to 1,353 points. Contrastingly, the supramax index experienced a slight uptick, rising by one point to reach 969 points. Overall, the benchmark index recorded a weekly decline of 8.6%.