Subscribe to RSS feedCoal port congestion powers BDI surge
Bulk port congestion along Australia's east coast and growing demand for coal drove the Baltic Dry Index to its sixth weekly increase last week.
Long wait: Queues off the port of Hay Point remain high amid stronger demand (Photo: Southern Cross Maritime)
The BDI climbed 9.4% to 3393 points by Friday, led by continued growth in demand for panamax vessels.
Charter rates for panamax bulkers topped US$28,500, a 13% gain on the previous week and the highest level since September last year.
Demand for...
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