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The Baltic Dry Index rose 71 points to 1,045, its first close above 1,000 since August 2015. Drewry says the dry bulk market has bottomed and a slow recovery is underway, with scrapping and low newbuilding tightening supply.
A sustained recovery in dry bulk rates raises the cost of shipping grain and oilseeds, and Drewry's supply-tightening view suggests freight support beyond the short term.
shipandbunker.comShip, Bunker News TeamNov 11, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
