04.09.202614:04:10UTC+00Baltic Dry Index Rises to Fresh 2021-Highs

The Baltic Exchange’s dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, extended its rally for a third consecutive session on Friday, rising 4% to 3,628 points — its highest level since October 2021. Freight rates have climbed sharply as firm demand for commodities, particularly iron ore and coal, coincides with constrained vessel availability and longer voyage distances driven by geopolitical disruptions.

The capesize index, reflecting rates for ships that typically carry 150,000-ton cargoes of iron ore and coal, also gained for a third straight day, jumping 6.4% to 6,427 points, its highest reading since December 2023. The supramax index edged up 0.4% to 1,675 points.

By contrast, the panamax index, which tracks vessels with a capacity of about 60,000 to 70,000 tons, mainly for coal and grain, broke a recent winning streak and slipped 0.4% to 2,448 points. For the week, the overall benchmark index advanced about 13.9%.