(Bloomberg) -- The cost of hiring Capesize bulkers, the largest type of ship that carries iron ore and coal, rose to a record on China's demand for raw materials.
The Baltic Capesize Index, a measure of rates on routes around the world, rose 1.8 percent yesterday to 8,953, passing the high of 8,911 reached on Dec. 7, 2004. The index has surged 50 percent this year. Capesize vessels carry as much as 175,000 tons of coal or iron ore.
Read more at Bloomberg Commodities News
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