The Baltic Dry Index has reached its highest level since the 2010 soccer World Cup kicked off, on the back of an ever-strengthening capesize market.

The index, which provides an overview of dry-freight spot markets, rose a further 104 points on Tuesday and reached 3,157 points.

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The BDI has risen for the past 14 consecutive trading days and is now at its highest level since 11 June 2010,...