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Main sea freight index at Baltic Exchange down to 685 points

iconAug 19, 2016 09:11
Source:SMM
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities down to 685 points on Wednesday driven by higher cape, panamax and supramax rates.

UNITED KINGDOM August 18 2016 3:37 PM     

LONDON (Scrap Register): The main  sea freight index at Baltic Exchange for ships carrying dry bulk commodities  down to 685 points on Wednesday driven by higher cape, panamax and supramax  rates.

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, advanced further  by 06 points to 681 points on Tuesday.

Trading activity in dry bulk  transportation market increased last week. Dry bulk shipping index Baltic Dry  gained 2.6% and reached 653 points, which was the maximum level since beginning  of August.

Increase in trading activity almost in all sectors of dry  bulk market supported the index. The sector of large-tonnage Capesize-type  vessels was the main driver of dry bulk market.

According to brokers, in  the sector of ore and coal trading some recovery of activity was noted in the  Pacific Ocean basin.

Market operators hope for some increase in ore  purchases, as production of rolled steel in China is expected to go up until the  end of autumn. This will probably provoke some growth of raw materials  transportation cost.


The main sea freight index at Baltic Exchange

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