Check out the Baltic Index this is all good news for...

Check out the Baltic Index this is all good news for TTY.

http://shipping.capitallink.com/baltic_exchange/stock_chart.html


http://steelguru.com/news/index/2008/03/30/NDA2NDA%3D/Sharp_rise_in_Capesize_freight_on_Brazil_to_China_iron_ore_route.html

Sharp rise in Capesize freight on Brazil to China iron ore route
It is reported that after consistent drop in Capesize freight on Brazil to China route for 2 weeks till March 23rd 2008, it witnessed a very sharp increase during past few days.

As per reports, Capesize freight which was in the range USD 62 per tonne to USD 64 per tonne during last week, have been reported quoting USD 78 per tonne to USD 79 per tonne level on March 28th 2008. This is the sharpest rise in the ocean freight in Brazil- China route in 2008.

This has lead to a sharp rally in Baltic Capesize Index from 9894 to 11815 in 4 sessions after Easter holidays, an increase of approx 20%.

Shipping industry experts attributed the reason of recent rise in Capesize freight to increase in chartering activity by Chinese buyers of iron ore from Brazil for April month. It is anticipated that further 10% rise in ocean freight in this sector may occur in the coming week.