MIDF Research expects the recovery in the Baltic Dry Index (BDI) rates to be more sustainable towards end of FY14, driven by the seasonality factor and possibly higher second half 2014 iron ore shipments by vale international SA.

The Baltic Dirty Tanker Index (BDTI) rates eased towards the end of August but above levels seen in the second quarter of 2014 and the research house expects rates to increase during the winter period.

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