Baltic Dry Bulk Index Hits One-Month High

Baltic Dry Bulk Freight Index Reaches One-Month High

The Baltic Exchange’s main dry bulk freight index, which aggregates rates for capesize, panamax and supramax vessels, increased by 20 points, or 0.7%, to 2,980 on Tuesday, marking its highest reading since early June. The capesize segment rose 49 points, a 1% gain, to 4,751, also the highest level in over a month, and average daily earnings for capesize vessels climbed $445 to $39,583. The panamax index edged up by one point to 2,251. The upward movement coincided with rising iron‑ore futures, driven by an escalation in freight costs following tensions in the Strait of Hormuz, a strike at BHP’s Port Hedland operations, and strong restocking demand from Chinese steel mills.