The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose to a two-week high on Friday, supported by stronger rates for capesize vessels.
The main Baltic index INDEX:BDI, which tracks rates for capesize, panamax and supramax vessels, added 67 points, or 2.5%, to reach 2,717, its highest since June 19. The index marked a weekly gain of 7.6%.
The capesize index (.BACI) was up 179 points, or 4.6%, at 4,100. It recorded a weekly gain of 12%, its highest since mid-April.
Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes including iron ore and coal, increased $1,618 to $33,678.
The panamax index (.BPNI) rose 8 points, or 0.4%, to 2,203, bringing its weekly gain to more than 4% and extending its winning streak to a second straight week.
Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000 to 70,000 tons of coal or grain, gained $67 to $19,825.
Among smaller vessels, the supramax index (.BSIS) was down 2 points, or 0.1%, at 1,673.