Baltic Dry Index Up for 3rd Day

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, advanced for a third session on Friday, rising marginally by 0.1% to its highest since October 13 at 2,714 points. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also increased for the third day, rising by 0.9% to its highest since October 12 at 4,126 points. Meanwhile, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell further by 1.7% to its lowest level since April 13 at 1,889 points. Among smaller vessels, the supramax index decreased by 0.3% to its lowest since October 15 at 1,865 points. The benchmark posted a weekly gain of 2% but dropped more than 12% in October.