FX.co ★ Baltic Dry Index Down for 3rd Day

The Baltic Exchange's dry bulk sea freight index, an indicator of shipping rates for vessels transporting dry commodities, declined for the third consecutive day on Thursday, slipping approximately 0.8% to its lowest level since March 12, at 1,621 points. This decrease was primarily driven by a downturn in the larger vessel category. Specifically, the capesize index, which measures freight rates for ships transporting 150,000-ton cargos such as iron ore and coal, dropped for a third consecutive session, falling by 2.1% to reach its lowest mark since March 11, at 2,527 points. Meanwhile, the supramax index saw a decrease of 0.7%, settling at 1,007 points. On a different note, the panamax index, which typically monitors vessels carrying between 60,000 and 70,000 tons of coal or grain, experienced an increase of about 1.9%, climbing to its highest level since September 26, at 1,484 points.