The Baltic Exchange's dry bulk sea freight index rose to its highest in more than a month on Friday, supported by higher rates across all vessel segments.
The main index increased by 15 points, or 0.7 per cent, to 2,126 points, its highest level since July 28. The weekly contract was up 7.4 per cent, its best week since July 21.
The Capesize index rose 29 points, or one per cent, to 3,070 points, with the weekly contract up about 8.3 per cent, its strongest week since July 21. Average daily earnings for Capesize vessels added $239 to $25,457.
Iron ore futures were range-bound on Friday, and set to gain for a third straight week, aided by improving demand in top consumer China and supply concerns over Guinea-based projects, although higher ore and steel inventories capped gains.
The Panamax index gained eight points, or 0.4 per cent, to 2,006 points, its highest level since May 2024. The contract posted its best week since July 7, rising 11.3 per cent. Average daily earnings for Panamax vessels increased by $73 to $18,056.
Among smaller vessels, the supramax index rose eight points, or 0.5 per cent, to 1,492 points. The contract was up 2.5 per cent for the week.
(Reporting by Pablo Sinha; Editing by Sahal Muhammed)
