Baltic index slips to all-time low on poor demand from China

London

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slid to an all-time low on Monday as sluggish cargo demand especially from China battered sentiment.

The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, was down five points, or 0.89 per cent, at 554 points, the lowest level for which Baltic data is available that dates back to January 1985.