News Content
Baltic Dry Index falls to new all-time low as demand evaporates
FALLING demand and oversupply of vessels pushed the Baltic Exchange's main sea freight index to a new all-time low last week, Reuters reported.
The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell 12 points or 3.56 per cent to 325 points.
"At these levels owners would rather park their ships than carry on bleeding money, and rumours of laid up assets have been rife in the past couple of weeks," Braemar shipbrokers said in its latest research note.
The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell 12 points or 3.56 per cent to 325 points.
"At these levels owners would rather park their ships than carry on bleeding money, and rumours of laid up assets have been rife in the past couple of weeks," Braemar shipbrokers said in its latest research note.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
