The Baltic Exchange’s dry bulk freight index, which monitors rates for vessels transporting dry bulk commodities, extended its gains for a third consecutive session on Friday, according to Hellenic Shipping News.
The index saw a 4% increase, reaching 3,628 points. This marks a new high for the index since October 2021, as reported by the publication.
Hellenic Shipping News indicated that shipping rates have experienced a significant rise. This increase is attributed to strong demand for various commodities.
Specifically, the publication highlighted iron ore and coal as commodities experiencing particularly robust demand, contributing to the upward pressure on freight rates.
