Baltic Dry Index Breaks 3-Day Decline

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, halted its three-day losing streak on Wednesday, rising about 1.9% to 2,652 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, surged roughly 5% to a two-week high of 3,886 points, reversing three consecutive sessions of declines. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell further by 2.8% to its lowest level since late April at 1,965 points; and the supramax index went down by 0.3% to a one-week low of 1,878 points.