The Baltic Exchange’s dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a fourth consecutive session on Friday, gaining about 2.5% to 2,717 points—its highest level since June 19. The advance was driven mainly by strength in larger vessel segments.
The capesize index, reflecting rates for ships typically carrying 150,000-ton cargoes such as iron ore and coal, also climbed for a fourth straight day, rising 4.6% to 4,100 points. The increase was supported by stronger iron ore shipments from Australia and Brazil, although Chinese restrictions on some Fortescue cargoes curbed buying interest from steel mills.
The panamax index, which covers vessels that usually transport about 60,000 to 70,000 tons of coal or grain, edged up 0.4% to 2,203 points. In contrast, the supramax index slipped 0.1% to 1,673 points.
Overall, the benchmark index posted a weekly gain of 7.6%.