FX.co ★ Baltic Dry Index Down for 9th Day

The Baltic Exchange's dry bulk index, an indicator of shipping rates for dry commodities, has declined for nine consecutive days, reaching its lowest point since July of last year, at 1,532 points, primarily due to challenges in the larger vessel segment. Specifically, the capesize index, which covers vessels transporting approximately 150,000 tons of cargo like iron ore and coal, experienced a decrease for the 16th consecutive session, down by 6.3% to 2,175 points. Conversely, the panamax index, which pertains to ships generally carrying 60,000-70,000 tons of coal or grain, saw an increase of 4.3%, bringing it to 1,398 points. Moreover, the supramax index also showed a modest rise, gaining 10 points to reach 963 points.