FX.co ★ Baltic Dry Index Rises for 3rd Day, Posts Weekly Gain

The Baltic Exchange's dry bulk sea freight index, which monitors shipping rates for vessels transporting dry commodities, experienced an upward trend for the third consecutive session this past Friday, climbing by 1.5% to achieve a new peak at 1,373 points, the highest since April 7. This increase was fueled by heightened demand across all vessel types. The capesize index, responsible for hauling 150,000-ton cargo loads such as iron ore and coal, ascended for the third day in a row, jumping 2.3% to reach 1,889 points. In parallel, the panamax index, which typically reflects the activity of ships carrying 60,000-70,000 tons of coal or grains, witnessed its eighth successive gain, rising by 1.5% to 1,392 points. Conversely, among the smaller vessel categories, the supramax index saw a slight decrease, dropping by one point to settle at 977 points. Over the week, the benchmark index surged nearly 9%, marking its second consecutive weekly increase.