The cost of shipping dry bulk materials was up this week, following Asian coal deals and analysts increasing pricing forecasts for benchmark Chinese iron ore price negotiations.
The Baltic Dry Index (BDI) was 3230 on 10 March 2010, compared with 3121 last week. Capesize, Panamax, Supramax, and Handysize were 3723, 4013, 2587, and 1303, respectively.
Giving strength to the BDI was a coal deal struck between a Japanese steel maker and mining giant BHP Billiton which indicated that demand for raw material is on the rise.The world's sixth largest steel manufacturer, JFE Holdings Inc., agreed a 55% price...