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Recovery signs in shipping market

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The cost of shipping raw materials is surging but amid slowing Chinese economic growth and other global strains, the market remains well below its historical peak reached just before the financial crisis. 

File picture from Rio Tinto shows iron ore being loaded in Western Australia. The cost of shipping raw materials is surging but amid slowing Chinese economic growth and other global strains, the market remains well below its historical peak reached just before the financial crisis.

The Baltic Dry Index (BDI) -- which tracks rates to transport dry commodities such as coal, iron ore and grain across 20 shipping routes -- jumped 68 percent during the first half of the year.

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