Ports and Shipping - WORLDWIDE SHIPPING INDUSTRY - Weak iron-ore shipping demand drags down Baltic index.
The Baltic Exchange's main sea freight index fell for a seventh straight session, as demand for shipping iron-ore fell in the Atlantic. The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 1.6 percent, or 31 points, to 1,868 points last Wednesday. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from Brazil into China. The capesize index fell 7 points, or 0.2...
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