Baltic Dry Index rises to above 1100 points

UNITED KINGDOM August 14 2017 2:37 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities has rose to above to 1100 points level on Friday thanks to higher cape, panamax and supramax indices.
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 by another 46 points to 1138 points on Friday.
Weekly growth of Capesize index by impressive 40.8% helped BDI overcome the 1000 point mark for the first time in 3 months. 
According to brokers, requests for the supply of iron ore from Brazil to China were coming increasingly frequently, which affected freight rates in the Atlantic region.