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Main sea freight index at Baltic Exchange advances further to 690 points
Apr 26,2016 18:49CST
industry news
Source:SMM
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced further on Monday lifted by higher cape and supramax prices.

UNITED STATES April 26 2016 3:09 PM    

LONDON (Scrap Register): The main  sea freight index at Baltic Exchange for ships carrying dry bulk commodities  advanced further on Monday lifted by higher cape and supramax prices.  

The Baltic Dry Index, which provides an assessment of the price of  moving the major raw materials – such as coal, iron ore and grain – by sea by  taking in 23 shipping routes measured on a time charter basis, up by 2 point to  690 points on Monday.

The spike in Baltic Dry Index (BDI) is expected to  continue on the back of scrapping of vessels, which has pulled down the supply  to some extent, and rise in front-haul due to the ongoing harvest season in  South America.

Baltic Dry Index has risen 67% in the past month to  above-670 level and is expected to touch 900-levels by May-end. The index was  below 300 points barely two months ago.


The main sea freight index at Baltic Exchange

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