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| Economy |
| Shipping firms look for operational equilibrium as Baltic Index recovers |
| 2016-04-23 |
| Shipping companies, particularly the smaller ones, are breathing easier eespecially as the freight market reflected in Benchmark Baltic indices has more than doubled in last two months and is expected to rise. Consequently, shipping firms are now hoping to achieve operational equilibrium if freight rates remain firm. The spike in Baltic Dry Index (BDI), the benchmark for dry bulk shipping freight, in the past month is expected to continue on the back of scrapping of vessels which has pulled down the supply to some extent and rise in front-haul due to the ongoing harvest season in South America. BDI has jumped 67% in the last one month to 659 level and is seen touching 900 levels by end of May, industry officials said. The index was below 300 points barely two months ago. |
| Posted by:badanov |