FX.co ★ Baltic Dry Index Jumps on Thursday

The Baltic Exchange’s dry bulk index, which measures shipping rates for vessels transporting dry commodities, rose for a second consecutive session on Thursday, gaining 7% to 2,095 points, its highest level since February 2nd. The capesize index, covering ships that typically carry 150,000-ton cargoes such as iron ore and coal, jumped 11.2% to 3,241 points, indicating stronger iron ore and coal shipments that are tightening vessel supply and driving freight costs higher. The panamax index, which reflects rates for vessels that usually carry 60,000–70,000 tons of coal or grain, increased 1.8% to 1,766 points. Among smaller segments, the supramax index advanced 2.2% to 1,165 points.