Global freight rates retreat

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Published: Thursday, 03 December 2009

Shipping rates continue downward direction as market corrects after four-week rally

Dry bulk shipping rates continued sliding from 2009 highs reached at the end of November, despite steady iron ore and coal demand fundamentals from China.

 

The Baltic Dry Index (BDI) was 3918 on 2 December 2009, compared with 4119 last week. Capesize, Panamax, Supramax, and Handysize fetched 6352, 3677,...

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