Baltic Dry Index Breaks 10-Day Losing Run

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, snapped its long ten-day losing sreak on Monday, rising about 1.4% to 2,546 points, mainly due to a rebound in the bigger-size segment. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, advanced by 3.6% to 3,365 points, partly tracking higher iron ore prices amid stronger crude steel production and better-than-expected economic growth in China. At the same time, the supramax index rose by 0.2% to 1,868 points. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell 1.2% to 2,286 points.