Queensland’s Flooding May Cut Freight Rates

- January 4th, 2011

Bloomberg.com reports that freight costs have plummeted in Queensland, as coal producers have been unable to provide cargo.

Bloomberg.com reports that freight costs have plummeted in Queensland, as coal producers have been unable to provide cargo.

The story is quoted as saying:

Flooding has covered an area the size of France and Germany, damaging crops and cutting coal stockpiles for export as mines shut. Freight rates as measured by the Baltic Dry Index today slumped 4.5 percent to 1,693 points, taking the decline since Sept. 10 to 43 percent.

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