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Shipping rates bottom out?
July 22, 2010 - 00:00 GMT
KEYWORDS:
Baltic dry index
,
BDI
,
shipping rates
,
capesize
,
coal
,
iron ore
Dry bulk rates halt losing streak but rally not expected in short term
Dry bulk shipping rates stopped their losing streak this week after 35 sessions of consecutive falls as some shipping capacity was taken offline. However, continuing weakness in iron ore and coal prices indicated raw material and demand may still be falling, leading to expectation of low shipping rates for the next few months.The Baltic Dry Index (BDI) was 1781 on 21 July ‘10 compared with 1709 on 14 July 2010. Capesize, Panamax, Supramax, and Handysize were at 1752, 2207, 1692, and 957, respectively.“Two weeks ago,...
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Euromoney Institutional Investor PLC.
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