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Shipping firms ride high on buoyant freight rates

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  • Published On: May 09, 2008
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Freight rates have been on fire and shipping companies are set to bag higher profits. Baltic Dry Index, which is the benchmark for the price of shipping bulk commodities is at a 4 month high.Baltic dry Index is up 30 per cent since April 1 and spot rates for dry freight is up 24 per cent year-on-year basis at $96,000 per day.
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