Baltic Exchange Dry Index Rises for 3rd Day, Books Weekly Gain

The Baltic Dry Index, which measures the cost of shipping goods worldwide, extended gains for the third session on Friday, rising about 6.6% to a nearly two-week high of 1,324 points.

The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, extended its winning streak for the third day, jumping 16.6% to 1.613 points; and the supramax index was up 8 points to 1,182 points.

Meanwhile, the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, gained for the second day, rising 0.9% to 1,479 points.

The Baltic Dry Index advanced by 11.4% this week, the highest since early October.