Baltic Dry Index Jumps to 2,740 as Iron Ore Cargoes Lift Capesize Rates

The Baltic Exchange’s dry bulk freight index closed at 2,740 points on November 5, up 46 points, or 1.7 percent, its second straight session of gains and its highest level since October 13. That headline hides an inside split that matters more than the composite move: the capesize rate, which pays for the 150,000-ton voyages hauling iron ore and coal, advanced 2.3 percent to 4,191 points, a near one-month high, while the supramax rate for smaller parcels slid 0.6 percent to 1,824 points, its lowest since October 12. One index, two freight markets, telling different stories about what dry bulk actually wants.

Key Takeaways The Baltic Dry Index rose 1.7 percent on November 5 to 2,740 points, th…