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The Baltic Exchange's dry bulk freight index, which tracks shipping rates for vessels transporting dry bulk commodities, rose for the eighth consecutive session on Tuesday, gaining 4.6% to reach 2,354 points, its highest level since December 10.
The capesize index, covering vessels that typically carry 150,000-ton cargoes such as iron ore and coal, also advanced for the eighth straight day, jumping 6.8% to 3,671 points, the highest since December 18.
Meanwhile, the panamax index, which reflects rates for ships that usually transport 60,000 to 70,000 tons of coal or grain, rose 2% to 1,900 points, and the supramax index increased 1.8% to 1,344 points.
