Buoyant bulk trade lifts local shipping majors.
Economic Times (New Delhi, India), October, 2007
Byline: Anto T Joseph
Oct. 30--MUMBAI, India -- With global transportation of grain, iron ore and coal increasing by the day, dry-bulk freight market is on fire. Indian shipping companies have reaped huge benefits during the last quarter, as the Baltic Dry Index (BDI) continued its northward journey, and rose above the 10,000-mark, creating a history in the second week of October.
BDI is a composite of global shipping rates for dry-bulk commodities such as grains, coal and iron ore, and is seen as a key indicator of global demand and commodity pricing levels.
Last week, GE Shipping said in its market guidance that the ongoing boom is likely to continue in the medium term as well on the back of strong global GDP growth. "Demand for...
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