The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday as higher rates across capesize, panamax and supramax vessels helped the benchmark recover further from a more than two-month low hit earlier this week.
The main Baltic index INDEX:BDI, which tracks rates for capesize, panamax and supramax vessels, added 61 points, or 2.4%, to reach 2,562. It hit its lowest since April 15 on Monday.
The capesize index (.BACI) was up 144 points, or 4.1%, at 3,692.
Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes including iron ore and coal, increased $1,303 to $29,981.
The panamax index (.BPNI) rose 23 points, or 1.1%, to 2,177.
Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000 to 70,000 tons of coal or grain, gained $208 to $19,591.
Among smaller vessels, the supramax index (.BSIS) was up 6 points, or 0.4%, at 1,673.