The benchmark added 0.4% on Thursday after a 1.7% gain in the previous session, with stronger capesize rates offset fresh declines in panamax and supramax segments.
The Baltic Dry Index, a benchmark for dry bulk shipping costs, rose 0.4% to 2,725 on Thursday, extending the previous session's 1.7% advance. The increase was driven by the capesize segment, where the index climbed 2% to 4,198, its highest level since July 16. Capesize vessels typically transport 150,000-ton cargoes, including iron ore and coal. Other vessel classes continued to weaken: the panamax index fell 2.6% to 2,064, a one-month low, while the supramax index slipped 0.8% to 1,702, its lowest level since July 9. Panamax ships usually carry 60,000 to 70,000 tons of coal or grain.