FX.co ★ Baltic Dry Index Rally Continues

The Baltic Exchange dry bulk sea freight index, which monitors the rates for ships carrying dry commodities, continued its upward momentum for the seventh consecutive session on Thursday, appreciating by 9.2% to reach 1,626 points—its highest level since March 26. This surge is attributed to ongoing robust demand for larger vessels. The capesize index, responsible for transporting about 150,000-ton cargo such as iron ore and coal, advanced for the seventh consecutive day, soaring 14.7% to reach 2,845 points, marking its highest level since March 14. Meanwhile, the panamax index, typically ferrying 60,000 to 70,000 tons of coal or grain, ascended for the third session in a row, rising 5.8% to nearly a two-week peak of 1,211 points. Conversely, among the smaller vessel categories, the supramax recorded a decline, easing by 4 points to reach its lowest point since April 14 at 936 points.