The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, rose to its highest level in nearly two years on Thursday, propelled by gains across vessel segments.

* The main index BBDI, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 10 points, or 0.4%, to 2,270 points, its sixth consecutive gain and the highest level since March 2024.
* The capesize index (.BACI) added 11 points, or 0.3%, to 3,647 points, marking its highest level since late July.
* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $90 to $30,244.
* Iron ore futures prices snapped a three-session winning streak on Thursday, with focus back on concerns over a supply glut in the fourth quarter amid robust shipment and weakening demand in top consumer China.
* The panamax index (.BPNI) gained 17 points, or 0.9%, to 1,912 points.
* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, rose by $147 to $17,204.
* Among smaller vessels, the supramax index (.BSIS) rose 5 points, or 0.4%, to 1,435 points, up for the eleventh straight session.
Source: Reuters