(Bloomberg) -- The queue of ships waiting to load at Newcastle, Australia's largest coal-export port, lengthened to a record as freight rates for shipping the fuel rose to the highest in more than two years.
The numbers of ships waiting to load rose to 91 in the seven days ended April 14, an increase of 32 percent from the previous week, the Newcastle Port Corp. said in a statement. The Baltic Panamax index, which measures earnings for ships that carry about 75,000 metric tons of coal and other dry-bulk commodities, rose to 5,254, the highest since December 2004.
Read more at Bloomberg Energy News
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