The Baltic Dry Index rose but fell on a weekly basis due to rising freight rates for large vessels in the Baltic Sea.

The Baltic Dry Index rose, supported by the increase in freight rates for large vessels, but the index recorded a weekly decline due to a decrease in all shipping rates at the beginning of this week. The Baltic Dry Index rose by 16 points, or 0.8%, to 1979 points compared to the previous trading day. The index has fallen by 2.3% this week. The Capesize Index rose by 19 points, or 0.7%, to 2835 points, but it has fallen by about 3.1% this week. The average daily earnings for Capesize vessels rose by $158 to $23,513. The Panamax Index rose by 44 points, or 2.5%, to 1802 points, with a weekly decline of about 2.4%. The average daily earnings for Panamax vessels rose by $395 to $16,221. The Supramax Index fell by 5 points, or 0.3%, to 1456 points, which is the lowest level in a week. The index fell by 0.6% for the week.