BDI climbs on grain surge

London:  The Baltic Dry Index rose to the highest in almost a month on demand to transport iron ore to China and South American grains.

The index of commodity-shipping costs advanced 55 points, or 3.3 percent, to 1,737 points, according to the Baltic Exchange today. That's the highest since March 25. Rents for panamax ships that haul grains jumped 3.7 percent to $12,955 a day, building on last week's 36 percent gain. Bigger capesizes that transport iron ore climbed 4.4 percent to $20,772. [21/04/09]