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

The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for vessels transporting dry commodities, experienced a decline for the second consecutive day on Thursday, decreasing by 4.2% to reach its lowest level since April 23, at 1,316 points, primarily due to subdued demand in the larger segment. Notably, the capesize index, which measures the rates for ships carrying substantial 150,000-ton cargoes such as iron ore and coal, plummeted approximately 9.5% to a level not seen in over two weeks, settling at 1,752 points. In contrast, the panamax index, which reflects the cost for ships typically hauling 60,000-70,000 tons of coal or grains, posted a slight increase of one point, reaching 1,363 points, while the supramax index rose by seven points to 968 points. Additionally, Maersk, a leading entity in the shipping industry, has issued a cautionary statement predicting a potential decline in global container volumes this year amid rising geopolitical tensions and ongoing trade disputes, notably involving the United States and its principal trading partners.