Baltic Exchange Dry Index Rises to Near 3-Week High

The Baltic Dry Index, which measures the cost of shipping goods worldwide, rose about 2.1% to a near three-week high of 1,355 points on Wednesday, helped by higher demand for its larger vessels.

The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, advanced 3.4% to 1,643 points; and the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, increased for the fifth day, rising 2.9% to 1,568 points, on its best day since October 5th.

Meanwhile, the supramax index shed five points to 1,172 points.