FX.co ★ Baltic Dry Index Bounces Back

The Baltic Exchange's dry bulk sea freight index, an indicator of shipping rates for vessels carrying dry commodities, halted its four-day decline on Friday, increasing by approximately 2.7% to reach 1,944 points. This uptick was supported across all vessel segments. The capesize index, which typically handles cargoes of around 150,000 tons like iron ore and coal, saw a rise of 3.3%, bringing it to 2,793 points. Similarly, the panamax index, which generally transports 60,000-70,000 tons of coal or grain, advanced by about 3%, hitting its highest point since July 28, at 1,770 points. Among smaller vessels, the supramax index increased by 1.4%, reaching its May 2024 peak of 1,424 points. However, on a weekly basis, the benchmark index experienced a decline of nearly 5%.