Baltic Dry Index Rises for 4th Session
The Baltic Exchange's dry bulk sea freight index, an indicator of shipping rates for vessels transporting dry commodities, increased for the fourth consecutive session on Wednesday. It rose by approximately 1.2%, reaching its highest level since July 28, primarily driven by gains in the larger vessel segment. The capesize index, which is typically associated with transporting 150,000-ton cargoes of iron ore and coal, surged by 3.5%, hitting its peak since August 14 at 3,300 points. However, the panamax index, often used for 60,000-70,000 tons of coal or grain, declined for the third straight day, falling by 2.3% to a more than one-week low of 1,923 points. Meanwhile, the supramax index experienced a slight increase of 0.1% to 1,492 points.
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