Chinese Bulk Demand to Drive Advance in Baltic Dry Index, Cosco Forecasts

摘要

The Baltic Dry Index, the main measure of shipping costs for commodities, will extend a 46 percent rally over the past month driven by Chinese demand for iron ore and grains, China Ocean Shipping (Group) Co. said. "The rebound may be bumpy, but in the final quarter the index should be much higher" said Kong Fanhua, a Beijing-based senior researcher at the owner of the world's largest operator of dry-bulk ships. Kong, who declined to give a forecast in figures, correctly called a rebound in the index last September.