Baltic Dry Index Up for 3rd Day

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, advanced for a third session on Wednesday, rising by 3.4% to its highest since October 13 at 2,680 points. Strength in the bigger-size segment continued to provide the main support. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, increased for a third day, surging by 7.7% to 3,793 points. At the same time, the supramax index rose by 0.1% to 1,870 points. Conversely, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell by 1.9% to 2,204 points.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, was up for a second session on Tuesday, rising about 1.9% to a near one-week high of 2,593 points. The main support came from the bigger-size segment. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also advanced for a second day, climbing 4.7% to 3,522 points. Meanwhile, the supramax index was steady at 1,868 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell by 1.7% to 2,247 points.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, snapped its long ten-day losing sreak on Monday, rising about 1.4% to 2,546 points, mainly due to a rebound in the larger vessel segment. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, advanced by 3.6% to 3,365 points, after ten consecutive sessions of declines, partly tracking higher iron ore prices amid stronger crude steel production and better-than-expected economic growth in China. At the same time, the supramax index rose by 0.2% to 1,868 points. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell 1.2% to 2,286 points.