FX.co ★ Baltic Dry Index Up for 8th Day, Posts Weekly Gain

The Baltic Exchange's dry bulk sea freight index, which monitors the rates for ships transporting dry commodities, continued its upward trajectory for the eighth consecutive session on Friday, increasing by 0.4% to reach a new peak of 1,633 points, the highest since March 26. The panamax index, which typically caters to vessels that carry between 60,000 and 70,000 tons of coal or grain, experienced a 2.9% rise, achieving a two-week high of 1,246 points, marking its fourth consecutive increase. In contrast, the capesize index, associated with the transportation of larger cargoes of approximately 150,000 tons, like iron ore and coal, ended a seven-day winning streak by falling 1 point to a total of 2,842 points. Meanwhile, the supramax index decreased by 3 points, dropping to its lowest level since March 14, settling at 933 points. Over the course of the week, the benchmark index saw a substantial rise of approximately 15%, marking its strongest weekly performance in 13 weeks.