The Baltic Dry Index rises to its highest level since the end of 2023

The Baltic Dry Bulk Freight Index rose to its highest level since the end of 2023 on Wednesday, driven by strong rates across all vessel types. The Baltic Dry Bulk Freight Index increased by 174 points, or 5.5%, to 3,331 points, marking its highest level since December 2023. The Capesize vessel freight index rose by 421 points, up 8.1%, closing at 5,642 points, also reaching the highest level since December 2023; average daily profits climbed by $3,819 to $47,666. The Panamax vessel freight index increased by 69 points, or 2.9%, to 2,429 points, hitting a more than three-month high; average daily profits rose by $628 to $21,865. The Supramax vessel freight index was up 7 points, or 0.4%, at 1,657 points.