The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, edged up on Monday as rates across vessel segments rose.
The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, edged 23 points, or 1.8% higher, to 3,001. The index hit its highest since March 2024 on May 7.
The capesize index added 21 points, or 0.4%, to 4,976.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, including iron ore and coal, gained $192 to $41,630.
Iron ore futures gained for a sixth session on upbeat data from top consumer China, as lower steel exports are expected to help rebalance steel prices and steel mill margins, while lower iron ore shipments and inventories year on year helped support prices.
The panamax index rose 50 points, or 2.2%, to 2,283, its highest since March 2024.
Average daily earnings for panamax vessels, which usually carry 60,000 ton to 70,000 tons of coal or grain, gained $449 to $20,548.
Among smaller vessels, the supramax index added 5 points, or 0.3%, to 1,527.
(Reuters)
