Baltic Index Holds Third Weekly Gain

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday and logged its third straight weekly gain.

The index, which reflects rates for capesize, panamax, and supramax vessels, gained 1.7% to 2,489 points, its highest level since mid-May.

The rise was driven by increased demand for capesize vessels, which carry cargoes of over 150,000 tonnes, as well as strong activity in the panamax and supramax segments.