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Shipping sinks to one-year lows

July 08, 2010 - 00:00 GMT

KEYWORDS: Baltic dry index , BDI , shipping rates , capesize , coal , iron ore

Dry bulk rates fall to fresh lows; Chinese iron ore demand falters


Declines were led by tightening Chinese demand of imported iron ore, although some analysts believe the slump in shipping rates do not reflect less demand for metals and minerals.

The Baltic Dry Index (BDI) was 2018 on 7 July 2010 compared with 2406 on 30 June 2010. Capesize, Panamax, Supramax, and Handysize were at 2291, 2081, 1870, and 1029, respectively.  This makes it a 30-session losing streak with the BDI at its lowest level since May...

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