Baltic Trade Dry Exchange Freight Index. BADI rose for the fifth consecutive day on Friday as China's shipping booking increase boosted market sentiment.

The index of Baltic dry bulk freight rose 3.7% or 42 points to 1,178. The index measures the transportation costs of iron ore, cement, grain, coal, and fertilizers.

"The positive energy seen this week was mostly influenced by the large increase in immediate charter shipping activities. This is due to the recurrence of chartered shipping after the Lunar New Year," said Jeffrey Landsberg, director of Commodore Research, a dry bulk consultancy company.

"In the past few days, the market has a greater number of Chinese shipping booking activities."

Brokers said that the purchase of freight derivatives contracts, especially Panamax contracts, boosted sentiment this week.

Baltic Capesize Freight Index. The BACI rose by 4.54%, and the average profit of the Capesize vessels rose to US$7,149, which rose for four consecutive days.

The Baltic Panamax Freight Index. BPNI rose 3.38%, and the average profit of this type of vessel rose to US$12,971, which rose for seven consecutive days.