Baltic Dry Index Up for 2nd Day, Logs Weekly Gain

The Baltic Exchange's dry bulk index, which measures the pricing for ships transporting dry goods, rose for the second day in a row on Friday, climbing approximately 1.2% to reach 2,069 points. This increase was primarily fueled by the larger vessel category. The capesize index, which generally hauls substantial cargo loads like iron ore and coal, increased for the second consecutive session by 2.1%, reaching 3,121 points. Meanwhile, the panamax index, which typically handles cargos of 60,000 to 70,000 tons, including coal and grain, saw a slight uptick of one point, landing at 1,827 points. Among smaller ship categories, the supramax index gained 2 points, reaching its highest level since October 7, at 1,424 points. The overarching index recorded a weekly increase of 6.9%, bolstered by advancements in all vessel classifications.

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