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Shipping costs plunge to 22-year low

Posted on 27 November 2008

From FT: The cost of shipping dry bulk commodities such as iron ore, coal and grains plunged to a near 22-year low on Wednesday, as worldwide demand for raw materials continued to decline.

The Baltic Dry Index, a global benchmark, fell 5.1 per cent to 762 points, the lowest level since January 1987. The index has tumbled 93.5 per cent since reaching an all-time high of 11,793 points in May….. Full Article: Source


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