The Baltic Exchange's dry bulk sea freight index has experienced a fourth consecutive session of gains, reaching its highest level in one-and-a-half years. The surge is primarily driven by a substantial rise in the capesize segment, with the overall index gaining 5.8% to 2,391 points. The capesize index, representing vessels transporting large cargoes like iron ore and coal, soared 9.4% to 4,179 points, the highest since May 2022. This robust performance is attributed to increased demand and support from strong earnings. Congestion in Brazil and delays in the Panama Canal also contributed to a strong week for Panamax vessels, while the supramax index reached a two-month peak. Despite these positive trends, Dalian iron ore futures experienced a one-week low due to Chinese government interventions aimed at curbing price rallies.

SOURCE: GOOGLE