Shipping index increased to maximum since August beginning


Trading activity in dry bulk transportation market increased last week. Dry bulk shipping index Baltic Dry gained 2.6% and reached 653 points, which was the maximum level since beginning of August.

Increase in trading activity almost in all sectors of dry bulk market supported the index. The sector of large-tonnage Capesize-type vessels was the main driver of dry bulk market. According to brokers, in the sector of ore and coal trading some recovery of activity was noted in the Pacific Ocean basin. Market operators hope for some increase in ore purchases, as production of rolled steel in China is expected to go up until the end of autumn. This will probably provoke some growth of raw materials transportation cost.

More information on freight market is available to subscribers for weekly market report "Black Sea Grain & Oil" by UkrAgroConsult.




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