Baltic index hits over 7-month high on increasing vessel activit
Baltic index hits over 7-month high on increasing vessel activity
index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity.
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or 3.8%, to 1,617, its highest since Nov. 5.
* The index has soared more than fourfold after slipping to a low of 393 points in May, when coronavirus-induced lockdowns hammered global trade and vessel demand.
The still looming threat of a renewed lockdown in Autumn, coupled with a still sluggish paced recovery in the West and continued geopolitical issues, leave for a high-risk potential of a complete derailment of the recovery effort being made,
finance.yahoo.com/ne...ver-7-134446587.html
The index on Friday posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up.
* "Current forecasts point to a healthy ore output from major mines; enough to support the strong Chinese demand and so far we have seen shipments from both Brazil and Australia to have picked up."
finance.yahoo.com/ne...namax-133116118.html
index touched its highest level in more than seven months on Tuesday, as rates across all vessel segments rose on increasing trading activity.
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 59 points, or 3.8%, to 1,617, its highest since Nov. 5.
* The index has soared more than fourfold after slipping to a low of 393 points in May, when coronavirus-induced lockdowns hammered global trade and vessel demand.
The still looming threat of a renewed lockdown in Autumn, coupled with a still sluggish paced recovery in the West and continued geopolitical issues, leave for a high-risk potential of a complete derailment of the recovery effort being made,
finance.yahoo.com/ne...ver-7-134446587.html
The index on Friday posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up.
* "Current forecasts point to a healthy ore output from major mines; enough to support the strong Chinese demand and so far we have seen shipments from both Brazil and Australia to have picked up."
finance.yahoo.com/ne...namax-133116118.html