Baltic Dry Index’s 7.5% gain the best in 14 months

Economic Indicators , Transportation Aug 13, 2010 No Comments

The Baltic Dry Index, a measure of commodity-shipping costs, rose the most in 14 months as rents continue to surge for the capesize-class ships that typically haul iron ore.

The gauge climbed 166 points, or 7.5 per cent, to 2,378 points on Wednesday, according to the London-based Baltic Exchange. The advance was the largest since June 2, 2009.

Capesize rents jumped 20 per cent, the most in 31/2 months, to US$29,022 a day, extending August’s gain to 94 per cent.

via Baltic Dry Index’s 7.5% gain the best in 14 months – August 13, 2010.

Tags :

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

Leave a Reply

Your email address will not be published. Required fields are marked *