The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, advanced for a second day on Thursday, climbing 7% to its highest since February 2nd at 2,095 points.
The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, soared by 11.2% to 3,241 points, suggesting increased iron ore and coal shipments that tightens vessel availability.
At the same time, the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 1.8% to 1,766 points.
Among smaller vessels, the supramax index increased 2.2% to 1,165 points. Source: Trading Economics
