Baltic Dry at Lowest Level Since August 1986
A Bulk Carrier Cargo Ship Docks in Shanghai
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Commodity shipping costs matched a record low set 28 years ago as China’s slowing demand for coal and weaker bookings before the Asian country’s New Year holidays compounded a fleet glut.
The Baltic Dry Index slid 0.9 percent to 554 points, the same level it fell to in July and August of 1986, according to data on Monday from the Baltic Exchange in London. Day rates declined for most ship types monitored.