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Baltic Dry Index drops further to 1455 points

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LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped further to 1455 points on Monday due to lower cape, supramax and panamax rates.

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, declined by another 19 points to 1455 points on Monday.

Baltic Dry Index has declined by 4.69 percent during last week and went down to 1482 points. Low demand for vessels delivering ore and coal appeared to be the main BDI reduction driver.

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