The Baltic Exchange's dry bulk sea freight index experienced its best week since late February, surging 52% as rates for capesize, panamax, and supramax vessels reached multi-month peaks. The overall index rose 8.7%, with capesize rates jumping 10.8% and panamax rates increasing by 5.5%. A shortage of capesize vessels in the Atlantic, coupled with congestion in Brazil and restrictions in the Panama Canal, contributed to the robust performance. However, analysts anticipate a potential cooldown in rates during the first quarter of 2024.

SOURCE: GOOGLE