by Manu Balachandran
Indian shipping companies, reeling under low freight rates and high fuel prices, are bracing up for a better year ahead as rising trade from Asia and Africa may provide a shot in the arm.
The Baltic Dry Index, which measures the cost of transporting raw materials by sea and is the benchmark index for sea-borne trade, is likely to rise 20-25% in 2012 from its average of 1,500 in 2011, say industry experts. The commissioning of new power plants in the country in the next six months will boost freight rates and trading volumes for Indian shipping firms in the second half, though the first half of the year could continue to be tossed under the turbulent macroeconomic environment in Europe, experts say.
India Times
