Baltic Dry Index drops further to 1473 points
Time:Tue, 07 Nov 2017 05:41:53 +0800
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The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped further to 1473 points on Monday due to lower cape, supramax and panamax rates.
The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes, measured on a time charter basis, down by another 03 points to 1473 points on Monday.
The Baltic Dry Index reached three-year high of 1,588 late October, thanks to the rally seen among the industrial commodities.
In particularly, the prices of base metals have rallied, while iron ore prices are showing a mixed movement but still hovered above the $60 per mt level.
