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

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships transporting dry bulk commodities, rose for a second consecutive session on Friday, gaining about 1.2% to 2,944 points, its highest level since June 5.

The capesize index, reflecting earnings for vessels that typically carry 150,000-ton cargoes such as iron ore and coal, also advanced for the second day, climbing 1.9% to 4,655 points. The panamax index, which measures rates for ships that usually transport 60,000–70,000 tons of coal or grain, was broadly steady at 2,253 points.

Among the smaller segments, the supramax index edged up 0.4% to 1,706 points. Overall, the benchmark index posted a weekly gain of about 8.4%.