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SCI, GE Shipping in focus as Baltic Dry Index up 47% in 1-mth; time to buy?
The Baltic Dry Index now quotes at a 8-month high. Technical charts hint at a potential 36 per cent upside for select shipping stocks like SCI, Dredging and Seamec. Details here
Rex Cano Mumbai
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Shares of shipping related companies are likely to be in focus as the Baltic Dry Index - the shipping and trade index - has surged to a 8-month high at 1,968. The index has rallied as much as 47 per cent from levels of 1,338 in the last one month.
What is the Baltic Dry Index & its impact?
The Baltic Dry Index (BDI) represents the average price for shipping dry bulk materials via sea routes, and is often considered as a leading indicator of economic activity for it reflects the supply and demand for raw materials
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