Baltic Dry Index: Advanced to an 11-week high on higher rents for iron-ore carriers. The gauge rose 1.4% to 1,565 points. Hire rates for capesize ships, the biggest tracked by the index, led gains with a 5.8% climb. Pareto Securities however noted that gains could be limited, due to insufficient fresh inquiry to match vessel supply….
Meanwhile, we note that beneficiaries of a rising BDI include Mercator Lines, Courage Marine and STX P.O and Cosco, while Co’s tipped to be negatively affected by a high BDI would include CWT and Goodpack, which could see their margins depressed.
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