Virus fears weigh on global shipping sector
Source: MarketsFarm, February 4, 2020
Winnipeg,(MarketsFarm) – Global shipping rates continue to decline, hitting record lows in some cases, amid declining demand and concerns over the coronavirus outbreak in China.
The Baltic Dry Index (BDI), compiled by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea. The BDI has fallen for 13 consecutive sessions, hitting 453 points on Tuesday, Feb. 4. That marks the lowest level in four years, and is only slightly above the record low of 290 points hit in February 2016.
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