Baltic Dry Index Extends Rally Into 9th Day

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, advanced for a second session on Thursday, rising 1.8% to its highest since March 5 at 2,066 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also increased for a second day, surging 2.1% to an over four-week high of 3,086 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, rose 1.5% to 1,784 points. Among smaller vessels, the supramax index went up 1.2% to 1,224 points. For the week, the benchmark index gained 1.7%.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, halted a two-day decline on Wednesday, rising by 1.8% to 2,030 points, amid broad-based gains across vessel segments. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also snapped a two-day losing streak, surging 2.6% to 3,023 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, increased by 0.8% to 1,758 points. Among smaller vessels, the suprmax index rose by 0.6% to 1,209 points.

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was down for a second session on Tuesday, falling 1.1% to a near three-week low of 1,995 points. The capesize index, which typically transport 150,000-ton cargoes including iron ore and coal, also retreated for a second day, slumping 1.9% to a near one-week low of 2,947 points; and the supramax index eased 1 point, or 0.1%, to 1,202 points. Conversely, the panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, edged up 0.1% to 1,744 points. The benchmark index recorded a 12.2% decline in March, its first month of losses this year.