UNITED KINGDOM March 27 2017 2:27 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced significantly to 1240 points on Friday led 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, gained by another 44 points to 1240 points on Friday.
Lookin forward, there is mixed expectations over future demand to transport coal into China. On one hand we are out of the peak demand season for thermal coal, on the other peak demand season for metallurgical coal is just getting underway.
More support for seaborne coal demand into China could come if the country moves forward with tightening regulations on its domestic coal miners.
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