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

The Baltic Exchange’s dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, declined for a second consecutive session on Wednesday, slipping about 1.4% to 2,776 points, its lowest level since July 31. Steeper losses in the larger vessel segments outweighed a modest gain in the smallest category. The capesize index, reflecting rates for ships typically carrying 150,000-ton cargoes such as iron ore and coal, also fell for a second day, losing 1% to 4,376 points, another low since July 31. The panamax index, which measures rates for vessels hauling about 60,000 to 70,000 tons of coal or grain, dropped 2.2% to 2,107 points, likewise its weakest level since July 31. In contrast, the supramax index inched up 0.2% to 1,634 points, marking its highest reading since July 28.