FX.co ★ Baltic Dry Index Snaps 2-Day Rise

The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for vessels transporting dry commodities, experienced a decline of 0.6%, settling at 1,642 points as of Tuesday. This dip breaks a two-day streak of rising values, driven largely by downward pressure in the larger vessel segment. Specifically, the capesize index, which reflects rates for ships that handle massive 150,000-ton shipments such as iron ore and coal, saw a notable decrease of 2.2%. This drop brings the capesize index to its lowest level since March 11, at 2,630 points. In contrast, the panamax index, indicative of rates for ships typically carrying cargoes of 60,000 to 70,000 tons of coal or grain, climbed by around 2.5%, reaching a peak not seen in over five months, at 1,423 points. Additionally, the supramax index made a modest gain, rising by 2 points to reach 1,015 points.