Gain for shipping players as Baltic Dry index touches 10-year high

Shipping Corporation of India, Great Eastern Shipping, Tolani Shipping, and Essar Shipping are into bulk carriers along with other segment fleets in the domestic market

With the Baltic Dry Index having hit a 10-year high recently, Indian shipping companies are not just benefitting from the high freight but also from increased trade with Bangladesh and Vietnam, industry experts said on Wednesday.
 
“Construction activity has picked up significantly in Bangladesh as the country is focusing on infrastructure growth. Due to this, Indian shipping companies are witnessing increased cargo volumes with a lot of bulk raw material getting shipped. This is going to be a long-term trend as infrastructure push is expected to continue,” Captain Rahul Bhargava, chief operating officer (COO) at Essar Shipping, told Business