Baltic Exchange Dry Index Rises for 4th Day, Posts Weekly Gain

The Baltic Dry Index, which measures the cost of shipping goods worldwide, edged up 1 point to its highest in over four weeks at 1,386 points on Friday extending gains for the fourth straight session.

The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, increased about 0.5% to 1,683 points, likely tracking a rise in iron ore futures.

Meanwhile, the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, snapped an 11-day streak of gains, shedding 2 points to 1,659 points; and the supramax index lost 1 point at 1,152 points.

The Baltic Dry Index advanced 4.68% for the week.