The Baltic Dry Index (BDI) has soared to its highest level of the year as capesize bulkers continued to surge for a fourth day.

The index, a broad-based measure of the strength in the dry bulk spot market, moved higher by 113 points on Monday to reach 2,831. The figure marked the highest level for the BDI since 14 December.

While all of the bulker sectors that are components in the Baltic Exchange’s flagship index were on an upward march, capesizes posted the day’s largest gains.