Shipping Index Soars as China Iron Ore Buying Seen Curbing Fleet

  • Rates for Brazil-to-China jump most on record on lack of ships
  • Surge results in biggest 2-day Baltic Dry rally Since 2009

A measure of shipping costs for commodities had its biggest two-day gain in almost seven years amid speculation Chinese iron ore purchasing is eroding the supply of vessels to collect the raw material from Brazil.

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