Smaller vessels lead recovery

Published 05 April 2012

Although low rates were persisting in the capesize market, higher rates for smaller vessels and an improving Atlantic basin environment pushed up the Baltic Exchange’s main sea freight index by six points or 0.67% to 908 on Friday, 23 March and further to 922 points by Wednesday, 28 March. "The BDI has been slowly climbing higher over the past two months, but even 2000 points seems like a mountainous journey given that it took 35 trading days to go from 650 points to 900," Arctic Securities analyst Erik Nikolai Stavseth said.

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