Reflecting positively on international trade and the world economy, the Baltic Dry Index has surged by 45 per cent in just three weeks, reports have highlighted.
The index had dropped off sharply from its four-year high during the first quarter of the year amid fears that buoyant global growth had slowed down significantly. But the index started the second quarter on a stronger footing, reports added.
The Baltic Dry Index is a trade indicator that measures shipping costs for commodities, tracking global trade and indicating the future direction of economic growth. It is seen as a global growth bellwether.