Baltic dry index falls to 6-month low

The Baltic Exchange's main sea freight index, which tracks global rates for ships carrying dry bulk commodities, has declined steadily after hitting a two-year high in early December. The slide in the index is primarily attributed to a seasonal slowdown in global commodity trade and subdued demand from key markets, Mysteel Global notes.

By January 12, the overall index – which includes rates for Capesize, Panamax, and Supramax vessels – had dropped for a sixth consecutive session to 1,659 points, marking a six-month low. The figure also represented a sharp decline of 546 points or 25% from the month-ago level. The weakening index