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shipping costs

Page history last edited by PBworks 15 years, 9 months ago

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High Oil Prices are leading to inflation by increasing shipping costs

Countries that import natural resources, led by China and India, face further inflationary pressures after the cost of shipping basic commodities such as iron ore, coal or grains surged yesterday to its highest ever level.

The Baltic Dry index of shipping costs rose to 11,067 points - a 3.9 per cent rise on the day - surpassing its previous peak of 11,039 points in November, boosted by a combination of strong demand for commodities and port traffic jams. The index, the benchmark for dry bulk commodities' freight costs, has jumped tenfold since 2000 and risen 150 per cent since January 2007.

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