Baltic Dry Index Rises to Fresh 2021-Highs
The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, extended its upward trend for a third session on Friday, climbing by 4% to a fresh high since October 2021 at 3,628 ponts. Shipping rates have risen sharply as strong demand for commodities, particularly iron ore and coal, meets ...
The Baltic Dry Index reached fresh 2021 highs, following a third consecutive session of gains, climbing by 4% to 3,628 points on Friday. Shipping rates surged as strong demand for commodities like iron ore and coal clashed with limited vessel supply and increased route lengths due to geopolitical disruptions. The capesize index, which transports 150,000-ton cargoes of iron ore and coal, also climbed 6.4% to a peak since December 2023 at 6,427 points.
The supramax index rose by 0.4% to 1,675 points. However, the panamax index, which tracks vessels carrying 60,000 to 70,000 tons of coal or grain, saw a slight decline of 0.4% to 2,448 points. The benchmark index rose 13.9% over the week. The information is sourced from Trading Economics.
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