The Baltic Exchange’s dry bulk freight index, which measures rates for vessels transporting dry bulk commodities, ended a ten-day losing streak on Monday, rising about 1.4% to 2,546 points, driven mainly by a rebound in larger vessel segments.
The capesize index, tracking ships that typically carry 150,000-ton cargoes such as iron ore and coal, climbed 3.6% to 3,365 points, supported in part by higher iron ore prices amid stronger crude steel output and better-than-expected economic growth in China. The supramax index inched up 0.2% to 1,868 points.
In contrast, the panamax index, which reflects rates for vessels usually carrying 60,000 to 70,000 tons of coal or grain, slipped 1.2% to 2,286 points.