Thursday, June 4, 2009

Shipping Index Soars

The Baltic Dry index, the benchmark for freight costs for iron ore, coal and grains, jumped 11.6 per cent on Tuesday, its 22nd consecutive day of gains, propelled by a big increase in the number of ships waiting at ports in China and Australia.

The increase took the index to 4,106 points, its highest since September.

1 comment:

  1. Could iron ore, grains, and other commodities become the new gold? Could speculators and investors be renting storage facilities to hold such hard assets? Could they be waiting for the day when these prices inflate? This is my guess.