FX.co ★ Baltic Dry Index Extends Rally, Posts Sharp Monthly Gain

The Baltic Exchange's dry bulk index, an indicator measuring the cost of shipping dry commodities, continued its upward trajectory for the 12th consecutive day on Friday, escalating by 3.2% to reach its highest level since December 2023 at 2,560 points. Meanwhile, the capesize index, which predominantly handles cargoes around 150,000 tons such as iron ore and coal, experienced a remarkable increase of 5.8%, marking its highest since March 2024 at 4,481 points. Similarly, the supramax index inched up by 0.3% to 1,441 points. In contrast, the panamax index, generally tasked with transporting 60,000-70,000 tons of coal or grain, continued to decline, dropping by approximately 0.5% to 1,952 points. Overall, the benchmark index demonstrated a robust weekly gain of 12.5%, contributing to a 30% increase throughout November.