The Baltic Exchange's dry bulk sea freight index broke an eight-day losing streak, surging 3.8% to 1,357 points. This increase was driven by higher rates in capesize, panamax, and supramax shipping vessels. Capesize rates rose by 6.9%, with average daily earnings reaching $15,365, boosted by a rebound in iron ore futures. Panamax rates reached their highest level in over a week, rising 3.2%. However, supramax vessels extended their losing streak for the 26th session. The shift in shipping routes due to Red Sea tensions also influenced market dynamics.

SOURCE:HELLENIC SHIPPING NEWS