Shippers rose after the Baltic Dry Index <.BADI>, the global
freight index of prices for shipping commodities, inched up 1.2
percent on Tuesday, its first gain since mid-November, amid
rising steel prices and firm iron ore prices.
Beaten down badly over recent weeks, shippers began climbing
earlier this week as hopes grew that the economic proposals being
floated by various nations would keep the global economy from
further worsening.
Mitsui OSK Lines Ltd <9104.T>, operator of the world's
biggest fleet of bulkers for shipping iron ore, jumped 9.8
percent to 547 yen, while Nippon Yusen KK <9101.T>, Japan's
biggest shipping company in terms of sales, gained 7.1 percent to
531 yen.
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