TOKYO -- Sea freight prices are on the rise for small, medium and large bulk carriers, with the Baltic Dry Index lifting to a high last seen in November 2014 on Tuesday, thanks to robust Chinese demand for iron ore.
The benchmark index hit 1,333 Tuesday after increasing 11% over the past week. The figure is up more than 90% from mid-February, as rates for large vessels carrying cargo such as iron ore continue to rise.
