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.