The Baltic Exchange’s dry bulk freight index climbed 2.5% to 3,186 on Friday, extending its winning streak to seven sessions and marking its highest level since June 2. The index tracks freight rates for vessels transporting dry bulk commodities across the Capesize, Panamax, and Supramax segments. Gains were broad-based and led by the larger vessel category.
The Capesize index, which typically covers 150,000-ton cargoes such as iron ore and coal, rose for a seventh consecutive day, jumping 3.9% to 5,336 points, its highest reading since June 2. The Panamax index, reflecting rates for ships carrying about 60,000 to 70,000 tons of coal or grain, advanced for a sixth straight session, adding 1% to reach 2,315 points, also the highest since June 2. Meanwhile, the Supramax index inched up 0.1% to 1,647 points. Overall, the benchmark index gained 12.1% over the week.