Baltic index hits over 3-week high

On 18 April, the Baltic Exchange's dry bulk sea freight index (BDI), reflecting supply-demand dynamics in global dry cargo markets, surged to a more than three-week high of 1,901 points, marking its highest level since 26 March. The overall index, which considered rates for capesize, panamax, and supramax shipping vessels, rose by 57 points or 3.1% compared to 17 April, primarily driven by robust demand across all vessel segments.

Specifically, the capesize index increased by 85 points or 3.1% from Wednesday to reach 2,845 points on Thursday. The average daily earnings for capesize vessels, which typically transport commodities like iron ore and coal, rose by $705 to $23,598.

The panamax index continued its upward trend for a sixth consecutive session, rising by 71 points or 3.9% from Wednesday to reach 1,876 points on Thursday, and the supramax index climbed by 28 points during the same period to 1,365 points.

chenziyi@mysteel.com

This article has been published under an article exchange agreement between Mysteel Global and BigMint.