Port Congestion Affects Shipping Charges

摘要

The cost of shipping dry-bulk goods, such as coal, iron ore and cereals, has surged to a new high boosted by strong demand, port congestion and a significant lengthening of trade routes, according to The Australian. The Baltic Dry Index, the best gauge of global dry-bulk shipping costs, recently rose above 7,000 points for the first time - an jump of 103 percent in the past year. The index has jumped almost fivefold since 2000. a sharp rise that threatens to add to already rising prices for agriculture, base metals and ore commodities. Although analysts expect some price easing, they predict that freight costs will remain high. As trade routes expand, vessels spend more time sailing from distant ports, reducing the capacity available and pressuring prices.