FX.co ★ Baltic Dry Index Hits 3-Week High

The Baltic Exchange’s dry bulk index, which measures freight rates for ships carrying dry commodities, rose for a second consecutive session on Monday, gaining 3.4% to reach 2,112 points, its highest level since February 2. The capesize index, covering vessels that typically transport 150,000-ton cargoes such as iron ore and coal, climbed 5.2% to 3,210 points. The panamax index, which reflects rates for ships that usually carry 60,000–70,000 tons of coal or grain, increased 0.8% to 1,853 points. Among smaller vessels, the supramax index advanced by 20 points to 1,179.