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Baltic Dry Index climbs to 1371 points

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LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities climbed to 1371 points on Friday driven by higher 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, up by 10 points to 1371 points on Friday.

Baltic freight index declined the third consecutive week, despite the recovery in demand for large-capacity shipments by Capesize-type vessels.

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