The Baltic Dry Index (BDI) continues to surge upwards this week, reaching 4,560 points, an increase of 150 points in one day alone – a level not seen since November 2009.
The rally in terms of shipping transport rates affects every category of vessels, with Capesize vessels able to transport up to 180K tons of iron ore or coal almost touching a day rate of 60,000 USD.
According to Intermodal’s research analyst Yiannis Parganas, who spoke with ot.gr, the surging daily rates are the product of several factors, beyond just the general trend of an increase in demand for commodities.
For instance, typhoon Chanthu in the East China Sea over the past week caused rates to increase, as it affected capacity supply.
Shippers have seen Pacific region rates skyrocket from 2,684 USD to near 56K, while the daily rate of 64.440 USD remains stable in the Atlantic.
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