Baltic Dry Index rises for the third consecutive day

The Baltic Exchange's dry bulk shipping index—which tracks vessel rates transporting dry commodities—rose for the third consecutive trading day on Friday, edging up 0.1% to 2,714 points, its highest level since October 13. The capesize index, which typically tracks vessels transporting 150,000 tonnes of cargo such as iron ore and coal, also rose for the third consecutive day, increasing by 0.9% to 4,126 points, its highest since October 12. Meanwhile, the Panamax index, which usually covers vessels carrying 60,000 to 70,000 tonnes of coal or grain, fell a further 1.7% to 1,889 points, hitting its lowest since April 13. Among smaller vessels, the supramax index declined 0.3% to 1,865 points, the lowest since October 15. The benchmark index posted a 2% gain for the week but has lost over 12% in October overall.