Baltic Exchange Dry Index Rises to Almost 3-Week High

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Credit: Timelab Pro/Unsplash

The demand for its larger vessels helped the Baltic Dry Index, which gauges the cost of shipping goods internationally, increase by almost 2.1% on Wednesday to a nearly three-week high of 1,355 points, as reported by Trading View.

Strongest day

The Panamax index, which follows approximately 60,000 to 70,000 tonnes of coal and grain cargoes, gained for the fifth day, climbing 2.9% to 1,568 points on its strongest day since October 5th. The Capesize index, which tracks iron ore and coal cargoes of 150,000 tonnes, advanced by 3.4% to 1,643 points.

The supramax index dropped five points to 1,172 points in the meanwhile.

 

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Source: Trading View

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