The Baltic Dry Freight Index, which tracks shipping rates for dry bulk cargo, rose by 4% to 2694 points on Wednesday. This increase followed two consecutive days of decline and indicates a positive impact on larger ships.
Increase in the Capesize Index
The Capesize Index, which typically carries 150,000-ton cargoes including iron ore and coal, also increased by 7.2% to reach 4097 points. This increase is likely due to rising iron ore prices, which have affected the demand for transporting this type of cargo.
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Changes in Other Indices
Meanwhile, the Panamax Index, which typically carries 60,000 to 70,000-ton cargoes of coal or grains, increased by 1.5% to reach 1894 points. This increase follows 15 consecutive sessions of decline, nearing a week-long record.
However, among smaller ships, the Supramax Index decreased by 0.6% to 1835 points, marking its lowest level since October 13. These fluctuations in various indices reflect changes in the dry bulk shipping market and the impact of prices and demand on them.
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