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Baltic Dry Index extends record low readings for 13 straight sessions
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, extended its string of record low readings for a 13th straight session last week, Reuters reported.
The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell three points, or 0.84 per cent, to 355 points.
The dry bulk sector has taken a beating from the slowdown in Chinese business at a time when the sector is struggling with huge overcapacity.
The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell three points, or 0.84 per cent, to 355 points.
The dry bulk sector has taken a beating from the slowdown in Chinese business at a time when the sector is struggling with huge overcapacity.
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