13.05.2016 - Bulk shipping falters as commodities stumble
Higher iron ore inventories at Chinese ports could well weigh on demand in the coming days and reflect in the index performance. The Baltic Dry Index (BDI) has been notoriously volatile this year. After touching an all-time low of 290 points on 10 February, the index shot up to 715 on 27 April. But, since then, it has declined 17% till 10 May. What gives? For one, the drop to the lowest level in the index, which tracks transport costs on international trade routes for dry bulk commodities such as coal and iron ore, was overdone. Two, the Chinese stimulus held out hopes of higher demand for commodities, especially steel and iron ore...............................................Full Article: Source
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