Baltic Dry Index at Over 1-Month High, Posts Monthly Gain

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, soared about 7.3% to the highest since mid-December at 2,148 points on Friday. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, jumped 12% to 3,507 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 1.6% to 1,743 points. Among smaller vessels, the supramax index added five points, or 0.5%, to 1,067 points. The benchmark index advanced 6.7% for the month and recorded a 27% weekly gain, notching its third consecutive weekly rise.