A bulldozer is loaded on a bulk carrier using a crane, prior to unloading
The Baltic Dry Index, which measures activity on major shipping lanes throughout the world, posted its first gain Friday in nearly two months. The index is a key measure of global trade because it indicates how well shipments of everything from coal to cement are moving. The gain was the first gain since May 26.
Analyst Justin Yagerman said in a client note Friday that rates for Capesize and Panamax vessels, two kinds of drybulk ships tied heavily to coal and iron ore trade, are up “considerably” — both of them fetching rates more than twice their operating costs. Coal and iron ore are used in steelmaking. Coal is also used to generate electricity.