GRIN - Baltic Dry Index pops past 10-year peak powered by capesize surge

The Baltic Dry Index surges to its highest in more than a decade ([[BDRY]] +7.1%), powered by a jump in the capesize vessel segment on increasing iron ore shipments from Brazil.The benchmark sea freight index closed +9.6% to 2,710, its best mark since October 2010, capping six straight days of gains.Among big gainers in the group: [[DSX]] +10.9%, [[EDRY]] +7.4%, [[EGLE]] +11.7%, [[GNK]] +8.5%, [[GRIN]] +5.5%, [[NM]] +3.9%, [[NMM]] +10.5%, [[SB]] +15.2%, [[SBLK]] +6.4%.The Baltic Exchange's capesize index ended +16.2% to 4,014, highest since October 2020, as average daily earnings for the large vessels that typically transport 150K-ton cargoes of coal and iron ore, jumped $4,638 to $33,290.The capesize segment has seen more fixtures reported over the last week, especially due to more demand for iron ore from Brazil, says Alibra Shipping head of research Rebecca Galanopoulos Jones.Also, the panamax index finished +5.2% to a three-week high 2,690, as average

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Baltic Dry Index pops past 10-year peak, powered by capesize surge