Baltic Dry Index Declines for a Sixth Day on Glut of Vessels
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The Baltic Dry Index, a measure of commodity-shipping costs, fell for a sixth day on speculation that too many vessels are seeking cargoes.
The gauge dropped 32 points, or 1.3 percent, to 2,510 points, according to data from the London-based Baltic Exchange. It has slid 9.8 percent in the current streak, the longest since a run that ended on Sept. 24. Capesize ships that typically carry iron ore led declines, retreating for a seventh day.