Baltic Dry Index crosses 3,000-mark as Capesize freight rates hit October high

The Baltic Dry Index (BDI) extended its winning streak for a seventh consecutive session on Thursday, reaching a one-month high as freight rates surged across Capesize, Panamax and Supramax vessels. The gains bring renewed attention to global dry bulk shipping costs, which influence the transportation of key industrial commodities, such as bauxite and alumina, across international supply chains.

The main Baltic index advanced by 61 points, or 2.1 per cent, to 3,020 points, marking its highest reading since October 5.

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The Capesize index recorded the strongest gains, climbing 136 points, or 2.9 per cent, to 4,836 points, its highest level since October 2. Average daily earnings for Capesize vessels increased by USD 1,232 to USD 40,357.

The Panamax index gained 14 points, or 0.7 per cent, to 2,117 points, reaching its highest level since October 22. Average daily earnings in the segment rose by USD 131 to USD 19,054.

Meanwhile, the Supramax index added 21 points, or 1.2 per cent, to 1,831 points, marking its highest level in more than a week.

Changes in bulk freight rates remain an important consideration for bauxite exporters, alumina refineries and aluminium producers dependent on seaborne raw material supplies.

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