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Main sea freight index at Baltic Exchange gains further to 1433 points

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LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities gained further to 1433 points on Wednesday led by an increase in cape, supramax and panamax indices.

The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes, measured on a time charter basis, gained by another 15 points to 1433 points on Wednesday.

The Baltic Dry Index, a key sea freight index that tracks rates for ships carrying dry bulk commodities, hit its highest in nearly four years in September, while benchmark supertanker rates have recovered from multi-month lows, along with the oil price, which neared $60 a barrel last month.

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