Rates for shipping dry bulk industrial minerals increased slightly this week, buoyed by increased shipments of coal to China due to low international prices.
Steady iron ore demand also helped support shipping rates, with Chinese manufacturing exports showing some recovery from recent weakness.
The Baltic Dry Index (BDI) was 1149 on 2 May compared with 1137 on 25 April. Capesize, Panamax, Supramax, and Handymax indices were 1495, 1693, 1099, and 601 respectively.
The main driver behind a higher BDI was cheaper global coal prices versus Chinese domestic prices, meaning China was likely to increase...