Shipping Stocks Essar Shipping,Mercator Lines and GE Shipping rose sharply on Wednesday as the Baltic Dry Freight Index touched a 14 month high of 4381. Essar Shipping rose 12% to at Rs.70.45, Mercator Lines gained 8% to close at Rs.61.90, Shipping Corporation climbed 3% to Rs.150 while trading in Great Eastern Shipping was frozen at the upper end of the 5% intraday circuit filter.
Free MCX Commodity Tip
Analysts say increased port congestion strong iron core and coal imports into China are some of the reasons that contributed to the surge in drybulk rates over the past two weeks.
Related Pages :
