The Baltic Dry Index, which measures the cost of shipping goods worldwide, rose about 3.1% to its highest since late October at 1,596 points on Tuesday, following a 0.8% drop in the previous session, amid firmer demand for large vessels. The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, climbed 8.2% to its highest level since October 7th at 2,365 points. “Most routes noted strong returns, with a healthy trade in the Atlantic basin”, shipbroker Allied said in its weekly note. Meanwhile, the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, fell 1.4% to its lowest in over two weeks at 1,622 points; and the supramax index decreased 15 points to 1,131 points.
