Baltic Dry Index Rises to Near 2-Week High

AI Summary

The Baltic Dry Index rose 1.2% to 3,473 points, the highest since September 11, reflecting increased dry bulk shipping rates. Gains were noted in capesize and panamax vessel indices, indicating strengthened demand for iron ore, coal, and other dry commodities.

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose by 1.2% to its highest since September 11 at 3,473 points on Thursday. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, increased by 1.3% to 5,939 points; and the panamax index, which usually ...