The Baltic Exchange’s dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, rose to an eight-month peak on Monday due to higher rates across all vessel segments.
The main index, which monitors rates for capesize, panamax and supramax shipping vessels, was up 7 points, or 0.4%, at 1,975, its highest since October 2.
The capesize index added 9 points, or 0.2%, to 3,731, its highest level since July 2024.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $78 to $30,944.
Iron ore futures prices edged up, supported by resilient demand for the steelmaking material, though U.S. steel tariff concerns capped gains.
The panamax index firmed another 9 points, or 0.6%, to 1,410, hitting over a ten-week high.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, added $84 to $12,694.
Among smaller vessels, the supramax index gained 3 points to 939, a near two-week high.
Source: Reuters