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Freight rates bobble up

July 29, 2010 - 00:00 GMT

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

Dry bulk shipping rates bounces in line with stronger iron ore buying


Dry bulk shipping costs, which account for many industrial minerals including bauxite, phosphate and salt, also recovered on expected demand for wheat as inventories begin to run low.

The Baltic Dry Index (BDI) was 1901 on 28 July 2010 compared with 1781 on 21 July '10. Capesize, Panamax, Supramax, and Handysize were at 1801, 2506, 1772, and 1007, respectively.

Iron ore up

Driving the BDI up was the spot price of iron ore delivered to China, which jumped the most in almost...

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