Baltic dry index rises to over 4-month high

The Baltic Exchange's main sea freight index, which tracks global rates for ships carrying dry bulk commodities, extended its rally on Monday, rising to its highest level in more than four months as geopolitical tensions around the Strait of Hormuz continued to unsettle shipping markets.

By April 20, the overall index – comprising rates for Capesize, Panamax, and Supramax vessels – had climbed for the 12th consecutive session, adding 66 points from the previous working day to reach 2,633 points. This marked the highest level since early December last year. The sustained gains come as