Dry bulk transport rates for shipping industrial minerals fell this week with lower Australian coal production and easing Chinese steel demand pulling the market down.
The Baltic Dry Index (BDI) was at 1811 on 21 September compared with 1974 on 14 September. Capesize, Panamax, Supramax, and Handysize were at 3012, 1665, 1463, and 681, respectively.
Weighing on the BDI was Australia cutting its coking coal output forecast for the next financial year. The world's largest coking coal producer cut production predictions by 6% to 161m. tpa and its export prediction...