London: Led by surging supramaxes the Baltic Dry Index increaded seven points to hit 7,000 for the first time yesterday. It was the seventh consecutive session that the BDI has headed north and far outweighs the previous peak of 6,208 back in December, 2004. With the key Australian port of Newcastle announcing yesterday further capacity cuts the index is expected to continue its climb today. [03/08/07]
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