Baltic Dry Index Rises for 3rd Day

The Baltic Exchange's dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, advanced for a third day on Wednesday, rising 16 points to its highest since October 1 at 1,963 points.

The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, extended gains for a fourth day, adding 39 points to an over one-week high of 2,924 points.

At the same time, the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 30 points to its highest since October 1 at 1,695 points.

Among smaller vessels, the supramax index eased 14 points to an over one-month low of 1,411 points.