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Baltic Dry Index rose to more than 10-week high, booking of vessels are still active
Time:2011-08-22   Read:918second  

Baltic Exchange Dry Freight Index. BADI rose Friday to more than 10-week high due to ship order to maintain momentum to boost market sentiment. 
  
But brokers said the warming of global financial turmoil, bank financing and tight supply of ships to increase the impact of rapid in the coming months will make dry bulk freight rates remain under pressure. 
  
Baltic Dry Index rose 3.39% or 48 points to 1462 points for the eighth consecutive day of gains. 
  
Brokers said the Australian iron ore miner's set to the Chinese ship transporting activities held firm and freight derivative contracts from buying the support of the boost this week shipping. 
  
"Brazil and Australia are very active this week's shipping activities is undoubtedly the reason for increase in freight." Broker Sverre Svenning Director Fearnley Consultants, said. "However, I still doubt the sustainability of this trend. The amount of shipping vessel growth is still not enough to offset the increase. " 
  
Baltic Capesize index. BACI rose 4.52% on average earnings rising to $ 15,136 per day since January high. Capesize normal carrying capacity is 15 million tonnes of cargo, iron ore and coal. 
  
Baltic Panamax freight index. BPNI rose 0.75% on average this type of ship for the $ 12,871 profit. The vessels are usually 6-7 ten thousand tons carrying capacity of the main cargo of coal and grain. 
  
Brokers said they pay close attention to China's economic dynamics is an important cargo market supporting factor.

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