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Australian flooding depresses Baltic Dry rates

Source: Financial Times, 12th January 2011

Australia's flooding and fears of ship oversupply has pushed down a gauge of the cost of hiring ships to carry coal, iron ore and other dry bulk by nearly half since October to the lowest level since the aftermath of the financial crisis. The Baltic Dry index, the widely watched measure of dry bulk charter rates, fell to 1,453, nearly half the 2,784 peak reached on October 27.



Read the full article on FT.com

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