Baltic dry index rebounds to over 2-year high

The Baltic Exchange's main sea freight index, a benchmark for global dry bulk shipping rates, has staged a strong rebound this week after a decline last Friday, climbing to its highest level in more than two years with all vessel segments posting solid gains.

On May 13, the overall index, which comprises rates for Capesize, Panamax, and Supramax vessels, rose by 126 points, or approximately 4.1%, from the previous session to settle at 3,189 points. The last time the index traded at these levels was in early 2024, underscoring the shipping market's recent