19 August 2019

Hopes build for shipping sector rebound as BDI rises, paper says

The Baltic Dry Index BDI), a gauge of marine freight rates for dry bulk commodities, has been rising since the end of February, indicating a recovery in the shipping industry, the Economic Information Daily reported Thursday, citing analysts. The BDI closed at 1325 points on March 4, up 64 percent over a year earlier and marking the sixth straight daily gain since the end of last month, it said. Betting on the industry recovery, investors are also increasing their exposure to shipping stocks, the report said, noting that George Soros’ investment funds have built positions in six New York-listed bulk shipping companies.

– Contact HKEJ at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe