Industrial Minerals


Freight eases on new ships

26 March 2010


Baltic Dry Index soft on extra capacity as newly built vessels hit the oceans

Extra shipping capacity coming online in the form of new boats and the lingering Rio Tinto PLC staff trial in China softened the cost of transporting dry bulk materials this week, offsetting strong physical demand for iron ore.The Baltic Dry Index (BDI) fell slightly to 3243 on 24 March '10, compared to 3396 last week. Capesize, Panamax, Supramax, and Handysize were 3259,  4267, 2841, and 1482, respectively.The BDI eased following the introduction of more capesize vessels in Q1...