The Baltic Dry Index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertilizer, was down 2.20% at 577 points, the lowest since August 1986. Because dry bulk primarily consists of materials that function as
In spite of the delivery of new bulk carriers ordered during the shipping golden age, dry shippers bulk freight rates are rising due to Chinese iron ore purchases. The shipowners are back on the bulk carriers spot market to meet
The Baltic Dry Index, a benchmark of commodity shipping rates, jumped 9.3 percent to 1,478 on Monday, the biggest gain since June 2009, according to the Baltic Exchange, the London-based publisher of freight rates on more than 50 trade routes.
The Baltic Dry Index is down for a third straight session, declining 25 points to 2,145, according to a recent Bloomberg article. The index, long analyzed as an indicator of global economic growth and production, has undergone a rather steady