The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, advanced for the 12th consecutive day on Friday, climbing 3.2% to a new high since December 2023 at 2,560 points.
The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, surged by 5.8% to a fresh peak since March 2024 at 4,481 points; and the supramax index rose 0.3% to 1,441 points.
Conversely, the panamax index, which usually carries 60,000-70,000 tons of coal or grain, extended losses from the prior day, falling about 0.5% to 1,952 points. For the week, the benchmark index increased 12.5%, bringing its November gain to 30%.
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, a member of the advisory board at Bendura Bank AG, Liechtenstein