Baltic Dry Index Rises for 2nd Session

The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, was up for a second session on Thursday, rising by 1.7% to its highest since October 13 at 2,740 points, propelled by the larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, also advanced for the second day, surging by 2.3% to a near one-month high of 4,191 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, rose by 3.3% to an over one-week high of 1,956 points. Among smaller vessels, the supramax index fell further by 0.6% to its lowest since October 12 at 1,824 points.