Baltic Dry Index Rebounds

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, jumped by 4% to 2,694 points on Wednesday, halting a two-day losing streak, supported by the larger vessels. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also snapped a two-day losing streak, soaring by 7.2% to 4,097 points, likely tracking higher iron ore prices. At the same time, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, rose by 1.5% to a near one-week high of 1,894 points, after 15 consecutive sessions of declines. Among smaller vessels, the supramax index fell by 0.6% to its lowest since October 13 at 1,835 points.