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Shipping rates lose steam

02 September 2010


Dry bulk rates falter on Indian iron ore law disarray, high Chinese stockpiles

The cost of shipping dry bulk materials – such as industrial minerals – eased this week owing to high steel inventories in China offsetting the effect of India’s disputed ban on iron ore exports, as well as lower shipping activity due to a British national holiday on Monday.The Baltic Dry Index (BDI) slipped to 2741 on 1 September 2010 compared with 2861 on 24 August 2010. Capesize, Panamax, Supramax, and Handysize were at 3643, 2955, 2029, and 1070, respectively.Suppressing the BDI was...