From Financial Times:
The cost of shipping dry bulk commodities, such as coal, iron ore and cereals, has surged to a new high boosted by strong demand, port congestion and a significant lengthening of trade routes.
The Baltic Dry Index , the best gauge of the world’s dry bulk shipping costs, last week rose above 7,000 points for the first time – an increase of 103 per cent in the past year. The index, which closed at 7,007 on Friday, has jumped almost fivefold since 2000. The sharp increase threatens to add to already rising prices for agriculture, base metals and ore commodities. [Full Text]
