30.01.202614:37:04UTC+00Baltic Dry Index at Over 1-Month High, Posts Monthly Gain

The Baltic Exchange's dry bulk index, a key indicator for freight rates of vessels carrying dry commodities, surged approximately 7.3% to reach 2,148 points, its highest mark since mid-December, as of Friday. This notable increase is largely attributed to unexpectedly high early-year shipment volumes, a rise in Chinese maritime imports, and enhanced tonne-mile demand. The capesize index, responsible for transporting cargoes of around 150,000 tons such as iron ore and coal, saw a significant 12% rise to 3,507 points. Meanwhile, the panamax index, which typically handles cargoes of 60,000-70,000 tons including coal and grain, improved by 1.6% to reach 1,743 points. In the smaller vessel categories, the supramax index increased by five points, or 0.5%, reaching 1,067 points. Overall, the benchmark index reported a 6.7% rise for the month and an impressive 27% gain for the week, marking its third consecutive weekly increase.