Baltic Dry Index rises third straight session

The Baltic Exchange's dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was up for a third session on Monday, rising about 1.4% to its highest level since August 12 at 2,882 points, supported by gains across all vessel segments.

The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also advanced for a third day, climbing 2% to a near two-week high of 4,643 points; and the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, rose for a second session, up 1.3% to 2,131 points.

Among smaller vessels, the supramax index edged up by 0.1% to 1,641 points.