The Baltic Exchange’s dry bulk freight index edged up on Monday as rates across vessel segments rose.
The main Baltic index, which tracks rates for Capesize, Panamax and supramax vessels, edged 23 points, or 1.8 per cent higher, to 3,001. The index hit its highest since March 2024 on May 7.
The Capesize index added 21 points, or 0.4 per cent, to 4,976. Average daily earnings for Capesize vessels gained $192 to $41,630.
Iron ore futures gained for a sixth session on upbeat data from top consumer China, as lower steel exports are expected to help rebalance steel prices and steel mill margins, while lower iron ore shipments and inventories year on year helped support prices.
The Panamax index rose 50 points, or 2.2 per cent, to 2,283, its highest since March 2024. Average daily earnings for Panamax vessels gained $449 to $20,548.
Among smaller vessels, the supramax index added five points, or 0.3 per cent, to 1,527.
(Reporting by Ishaan Arora in Bengaluru; Editing by Nick Zieminski)
