Baltic Dry Index Extend Gains, Still Posts Weekly Decline

Baltic Dry Index Extend Gains, Still Posts Weekly Decline

The Baltic Exchange's dry bulk sea freight index, which monitors the rates for ships transporting dry goods, climbed for the second consecutive day on Friday, increasing approximately 0.8% to 1,979 points, largely driven by gains in larger vessels. The capesize index, often used for transporting 150,000-ton cargoes like iron ore and coal, edged up by 0.7% to reach 2,835 points. Meanwhile, the panamax index, typically responsible for carrying between 60,000 to 70,000 tons of coal or grain, saw a notable rise of 2.5%, settling at 1,802 points. In contrast, among smaller vessel categories, the supramax index dipped by 0.3%, hitting a new one-week low of 1,456 points. Over the week, the overall benchmark index experienced a decline of roughly 2.3%.

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