Posted On: 01/10/2013 12:22:13 PM
Post# of 8059
This was a headline on a shipping stock PR today-also see below
Baltic Dry Index Posts First Increase Since November as Iron Ore Shipments on the Rise
The Baltic Dry Index (BDI), a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, last week increased 0.3 percent, which was the first increase since November 28th. In 2012, the BDI posted its lowest average since 1986, according to the Baltic Exchange.
Rates for Capesize vessels, which ship iron ore and coal, have surged 2.2 percent to $4,973 a day. Iron ore shipments to China are expected to rise after recent reports have shown inventories of the commodity were at their lowest levels in two years.
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