#Freight

Dry-Bulk Shipping Rates Hit Two-Year High on Capesize Demand

The Baltic Dry Index surged 5.6% to 2,991 points on Wednesday, reaching its highest level since December 2023, driven by rising demand for Capesize vessels and tightening ship supply in the Pacific. Disruptions to iron ore exports from Brazil and hedging of future freight rates contributed to the sharp market strengthening. The Capesize segment accounts for about 40% of the gauge and is most exposed to iron ore used in steel production.