The dry bulk shipping benchmark rebounded on Thursday after three straight losses, as capesize and panamax rates rose while supramax extended declines to a three-week low.
The Baltic Dry Index, a benchmark for global dry bulk shipping costs, rose 1.6% to 2,673 on Thursday after falling 1.2% to a four-week low of 2,632 on Wednesday. The rebound was driven by gains in larger vessel segments: the capesize index rose 2.5% to 4,167 after dropping 1.8% to 4,067 the previous day, while the panamax index added 2.3% to 2,040, its highest level since July 24, after edging up 0.4% to 1,995 on Wednesday. The supramax index continued to weaken, falling 1.1% to 1,610 after a 1.2% decline to 1,628 the prior session.