Baltic Dry Index Rebounds
The Baltic Exchange's dry bulk sea freight index, a key indicator of shipping rates for vessels transporting dry commodities, ended its three-day declining streak on Thursday by rising approximately 1.2% to reach 1,963 points. This increase was driven by higher rates in the larger vessel categories. Specifically, the capesize index, which is associated with the transportation of substantial cargoes such as 150,000 tons of iron ore and coal, increased by 1.6% to 2,816 points. Similarly, the panamax index, commonly utilized for carrying 60,000 to 70,000 tons of coal or grain, saw a rise of 2.3%, reaching 1,758 points. Conversely, the supramax index experienced a slight decline of 0.5%, dropping to a one-week low of 1,461 points.
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