Shipping rates fall on continued Australian flooding, new ships

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Published: Thursday, 13 January 2011

Dry bulk rates down with Australia’s ports still shut, ship fleet expansion forecast

Shipping rates for transporting dry bulk industrial minerals extended losses this week, with the market still unable to absorb vessels idled from shut ports due to the Australian flooding, while additional newly built ships were also putting pressure on rates.

The Baltic Dry Index was 1453 on 12 January 2011,...

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