Freight costs for dry cargo bulk commodities like grains, coal and steel have also jumped of late.

ECONOMIST: On a roll

The RRF, after the LMSR's come into service, will be reduced from 100 dry cargo ships to 65 due to an increased emphasis on prepositioning.

CENTERFORSECURITYPOLICY: Introduction

When restless New York City hedge fund manager Robert Fairchild watches the Baltic Dry Cargo Index plunge 97%, registering an all-time high and a 25-year low within the span of just six months, he decides to buy a ship.

FORBES: From the high seas of finance - Shipping Man

He operates seven ships that carry dry bulk cargo iron ore, coal, rice, sugar around the world.

WSJ: Sailing the Wide Miami Sky

That will help container ships, which sometimes have to offload some cargo during the dry season.

ECONOMIST: Expansion plans hit political problems