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The Baltic Exchange's dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a fourth straight session on Tuesday, gaining roughly 1.5% to 2,926 points, its highest level since August 12. The capesize index, reflecting earnings for ships that typically carry 150,000-ton cargoes such as iron ore and coal, also climbed for a fourth day, advancing 2% to a two-week high of 4,735 points. The panamax index, which measures rates for vessels hauling about 60,000 to 70,000 tons of coal or grain, extended its rally into a third session, adding 2% to reach 2,166 points. Among smaller segments, the supramax index inched up 0.1% to 1,643 points.
