Freight rates surge on commodity boom

Will it help shipping companies to revive their fortunes? That depends upon how many companies are in a position to cash in on high freights

Shipping freight rates are rising on the back of the commodity boom. The Baltic dry bulk, tanker segment, and other freight indices are rising fast for the past few months, following good demand in India, China, the Atlantic market, and the Gulf coast. The Baltic dry bulk index is up 45.3 per cent this year even after a small correction in the past few weeks, and has achieved more than a three-year-high level.
 
The Baltic dirty tanker index, reflecting movements in crude oil, in the past three months went up 33 per cent after a surge in Brent oil