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MARKETS

Shipping stocks track weakness in Baltic dry index
Shipping stocks track weakness in Baltic dry index


Five shipping stock fell 0.6% to 2.21% at 15:05 IST on BSE, after the Baltic Dry Index,Wednesday, 05.Jan.2011, 21:36 (GMT)
Five shipping stock fell 0.6% to 2.21% at 15:05 IST on BSE, after the Baltic Dry Index, which tracks rates to ship dry commodities, plunged nearly 5% in London on Tuesday, 4 January 2011.

Meanwhile, the BSE Sensex was up 160.01 points, or 0.78% at 20,338.71

Shreyas Shipping Company (down 2.21% to Rs. 41.95), Great Eastern Shipping Company (down 1.72% to Rs. 342), Shipping Corporation of India (down 1.18% to Rs. 134), Varun Shipping Company (down 1.14% to Rs. 34.80) and Mercator Lines (down 0.60% to Rs. 57.85) edged lower.
The Baltic dry index (BDI), which measures freight costs for dry bulk commodities such as iron ore and coal, fell 80 points, or 4.51% to settle at 1,693 in London on Tuesday, 4 January 2011.
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