Reported about 1 year ago
Aluminum and iron ore shipments are booming, causing the Cape shipping rate to exceed $30,000. The Baltic Dry Index (BDI) rose for the fourth consecutive time, reaching 2,158 points on July 1, with Cape ships leading the increase. Mainly driven by strong shipments of Brazilian iron ore and West African bauxite, Cape shipping rates have risen continuously for four days, standing at 2.38 times the average rate from July last year. The demand for bauxite is expected to grow by 8%, making Cape ships the best-performing vessel type in bulk shipping this year.
Source: YAHOO