Shipping Index Heads for Best Quarter Since 2011 on China Demand
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The Baltic Dry Index, a measure of costs to transport commodities by sea, is poised for its best quarter since 2011 on stronger Chinese demand for imports of Australian iron ore.
The gauge averaged 1,815 so far in the fourth quarter, the highest level since 2011’s final three months, according to data from the Baltic Exchange in London, which publishes freight prices on more than 50 global maritime routes. Charter costs for all four of the vessel types making up the index are set for the best quarterly performances in two years.