(Adds brokers, details)
LONDON Feb 5 The Baltic Exchange's chief sea
freight index .BADI, which tracks prices to ship key dry
commodities, rose on Thursday to the highest level since end
October last year.
The London-based index, which gauges prices to ship
resources like iron ore, cement, grain, coal and fertiliser on
major export routes, rose to 1,498 points or 13.83 percent.
Ship brokers said iron ore had seen a rush by key suppliers
like Rio Tinto (RIO.L), Vale (VALE5.SA)(RIO.N) and BHP Billiton
Ltd/Plc (BHP.AX)(BLT.L) to move iron ore into China.
"The China iron ore shipments have dramatically risen," one
On Wednesday, BHP Billiton Ltd/Plc said a massive build-up
of iron ore stockpiles in China that prompted suppliers to defer
millions of tonnes in shipments last year is ending, pushing
spot prices higher.
(Reporting by Mariam Karouny, editing by Peter Blackburn)