Capesize rally lifts Baltic Dry Index to five-week high

The Baltic Dry Index climbed for a second straight session to close the week at 2,944 points, its highest reading since 5 June, as strength in the larger vessel classes pulled the broader benchmark higher.

The Capesize index, tracking ships that typically haul 150,000-tonne iron ore and coal cargoes, advanced 1.9% to 4,655 points and gained about 13.5% over the week — the standout performer as average earnings pushed back above the $30,000-a-day mark.

Support came from firmer iron ore, with futures lifted by seasonally lower Australian shipments, freight-cost premiums and destocking at major Chinese ports. The benchmark index finished the week up roughly 8%.