The Baltic Exchange's dry bulk sea freight index has recorded its best week since late February, rising for the fourth consecutive week. The overall index, encompassing capesize, panamax, and supramax vessels, surged by 52% for the week, reaching 3,192 points. The capesize segment saw its best week since March, with rates spiking due to a shortage in the Atlantic that may persist until year-end. Panamax rates also reached their highest level since July 2022, influenced by congestion in Brazil and restrictions in the Panama Canal. Analysts expect rates to cool in Q1 2024.

SOURCE:GOOGLE