Posted AT 1:03 PM EDT on 15/05/08
Freight index soars to record high
LONDON — The Baltic Exchange's chief sea freight index for global raw materials trade soared to a record high Thursday on demand for natural resources in China and India, and congestion at key ore and coal export terminals.
The London-based index, which monitors merchant shipping costs on 40 major export routes for commodities, excluding oil, and is a key gauge of economic activity, jumped 418 points or 3.93 per cent to 11,067.
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| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | -133.18 | 14,010.39 |
| DJIA | +.00 | 11,288.54 |
| S&P 500 | +.00 | 1,262.90 |
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