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BREAKING NEWS
Baltic Dry Index Jumps to 2023-Highs
The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, surged by 5.5% by 3,331 points on Wednesday, reaching its highest since December 2023. Gains were broad-based, led by the larger vessel segments. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, jumped 8.1% to its highest since December at 5,642 points, supported by strong Atlantic and Pacific activity, despite weaker iron ore futures. At the same time, the panamax index, which tracks vessels carrying around 60,000 to 70,000 tons of coal or grain, rose 2.9% to a more than three-week high of 2,429 points, marking the eighth session of gains. Among smaller vessels, the supramax increased further by 0.7% to 1,657 points.
Source: Trading Economics
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