Due to rising shipping rates across all vessel types, the Baltic Index climbed to a more than two-year high.
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This index is used to monitor shipping freight rates for transporting dry bulk goods. The main Baltic index, which tracks freight rates for Capesize, Panamax, and Supramax vessels, rose by 159 points, an increase of 5.6%, closing at 2,991 points, reaching its highest level since early December 2023.
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