New Delhi, Aug. 25 -- Dry bulk freight rates surged around 36 per cent between February and July 2026, reaching their highest level in three years, amid higher international oil prices, geopolitical tensions and robust demand for commodities, according to a report by Bank of Baroda Research.

The report said freight rates across dry bulk carriers witnessed significant upward pressure during the period of the US-Iran war, with the Baltic Dry Index rising about 36 per cent between February and July.

"Baltic dry index has risen by ~36% to reach levels highest in past 3 years," the report said.

The sharpest increase was recorded in the Supramax index, which rose around 44 per cent during the period. Supramax carriers are primarily used for ...