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BALTIC DRY SCALES NEW HEIGHTS
Sunday, 28 November 2004
The runaway dry cargo market broke all records last Thursday when the Baltic Dry Index, an average of its handysize, panamax and capesize indices, achieved at an all-time high and on Friday it increased a further 136 points, ending the week at 5,870. The previous high, back in early February had been 5,681.
Asked what was behind the exceptionally bullish market a Baltic Exchange insider said just one word, ‘China’.