The Baltic Exchange’s dry bulk sea freight index climbed 2.8% to 1,643, marking a 12.4% weekly increase. Capesize vessels led the surge with a 4.1% rise to 2,589, up 21.4% for the week. Average daily earnings for Capesize vessels reached $21,473, boosted by iron ore’s ongoing rally and positive signals from China’s property sector. Panamax and supramax indices also posted gains, contributing to a buoyant week in the dry bulk sea freight market.
Market Insights
The dry bulk sea freight market witnessed a buoyant week, driven by increased rates across various vessel segments, particularly Capesize vessels. The sustained rally in iron ore and gains in Panamax and supramax indices further reinforced the positive market sentiment, indicating favourable conditions within the industry.
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Source: Marine Link
