The Baltic Exchange's main sea freight index fell to its lowest level since early 2009 on Monday as the market struggled with oversupply, but record steel production is lifting the outlook, traders said.
The Baltic Dry Index (BDI), which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 1.82 percent, or 25 points, to 1,345 points and was at its lowest since Feb. 4, 2009.
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Source: Reuters
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