Baltic index at near 2-yr low, supply glut bites

The Baltic Exchange's main sea freight index .BADI, which tracks rates to ship dry commodities, fell to its lowest in nearly two years on Wednesday as growing fleet supply and slow trade hit sentiment.
Brokers said flooding in Australia was disrupting shipping activity at a time when the dry bulk market was struggling with vessel deliveries ordered before economic turmoil in 2008.
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Source:Reuters Africa (Editing by Alison Birrane)