Coal Demand and BDI Surge Lift Pan Ocean Shares 61% This Year

Amid the U.S.-Iran war, rising coal demand and a sharp increase in bulk carrier freight rates have pushed up shares of bulk shipping companies such as Pan Ocean. The Baltic Dry Index (BDI) has surged 334% from last year’s low, and Pan Ocean is cited as a direct beneficiary of this year’s freight-rate rally. According to the source article, Pan Ocean shares have risen 61% this year. The increase in coal transport demand and the rebound in the BDI are seen as supporting expectations for bulk carriers. However, the article’s key evidence is limited to the BDI jump and Pan Ocean’s share-price gain. Source: mk.co.kr.