Baltic Dry Index Extends Rally Into 6th Day

The Baltic Exchange’s dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, was up for a sixth straight session on Friday, rising 1.9% to its highest since March 4 at 2,201 points. The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, also advanced for the sixth day running, climbing 2.6% to 3,318 points; and the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, rose 0.7% to 1,855 points. Among smaller vessels, the supramax index increased 1.2% to 1,308 points. The benchmark index rose 6.5% for the week, marking its strongest weekly performance since early February.