Baltic Capesize Index rides high on strong demand
Aug 16, 2019 17:00
Increased demand for dry bulk carriers, especially for iron ore shipments from Brazil, led the Baltic Capesize Index (BCI) – a key component of the Baltic Dry Index (BDI) – to rebound over the past week, according to market sources Friday.
As of August 15, BCI, the index for Capesize freight charges, had extended gains for a sixth straight day, reaching 3,767, up 586 or 18% on week, Mysteel Global noted.
Also as of Thursday, the daily assessment of freight between Brazil’s Tubarao to China’s Qingdao was higher at around $22.42/tonne, up