Baltic index rises to three-week high

The Baltic Exchange's dry bulk sea freight index (BDI), a crucial gauge of global dry cargo market conditions, increased to its highest level in three weeks on April 28, mainly bolstered by rising rates for large vessels, market sources observed.

The composite index, which tracks rates for capesize, panamax, and supramax vessels, advanced by 30 points or 2.18% on day to 1,403 points on Monday, marking its highest level since April 7. In particular, the index for capesize vessels, which typically transport 150,000-tonne cargoes like iron ore and coal, jumped