The cost of shipping dry bulk industrial minerals rose this week on strong Chinese iron ore prices indicating a return in demand from the world's largest commodity consumer.
Rates were also supported by continued optimism that this year's bumper US grain harvest will increase sea-borne trading, offsetting some shipper concerns that the eurozone debt crisis could sink European economies.
The Baltic Dry Index (BDI) was 972 on 20 June compared with 902 on 13 June. Capesize, Panamax, Supramax, and Handymax were 1145, 1093, 1146, and 695 respectively.
Helping to pull up the BDI was Chinese iron prices rising...