FX.co ★ Baltic Dry Index Extend Gains

The Baltic Exchange's dry bulk sea freight index, a key indicator of rates for shipping dry goods, experienced its second consecutive day of growth on Thursday. The index rose by approximately 0.7%, reaching 2,039 points, marking its highest level since August 8. This increase was driven by widespread improvements across the sector. Specifically, the capesize index, which pertains to vessels that commonly transport 150,000-ton cargoes such as iron ore and coal, climbed by 0.7% to 3,304 points. Meanwhile, the panamax index, indicative of ships that typically carry between 60,000-70,000 tons of coal or grain, ended a four-day decline by rising 0.6% to 1,603 points. Additionally, the supramax index, related to smaller vessels, saw a 0.7% increase, reaching a level of 1,345 points, the highest in over three weeks.