The Baltic Exchange’s dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, advanced for a third session on Wednesday, rising by 3.4% to its highest since October 13 at 2,680 points.

Strength in the bigger-size segment continued to provide the main support. The capesize index, which typically transports 150,000-ton cargoes, including iron ore and coal, increased for a third day, surging by 7.7% to 3,793 points. At the same time, the supramax index rose by 0.1% to 1,870 points. Conversely, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, fell by 1.9% to 2,204 points.

Source: Trading Economics