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China's appetite for iron ore sends bulk rates soaring

Bulk rates continue their upward trajectory thanks to China's imports of iron ore, reports investment bank Morgan Stanley. Rates are now at the highest level in three years.

Photo: /ritzau/Andre Penner

A large import of iron ore to china has helped to lift bulk rates significantly, reports investment bank Morgan Stanley.

Last week, Baltic Dry Index, which measures the prices of freighting bulk, reached its highest level in three years. Monday, the index rose 2.2 percent and landed at 1662 points.

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