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The going for shipping companies such as Shipping Corporation, Varun Shipping and GE Shipping is likely to be tough as the Baltic Dry Index (BDI) fell sharply. BDI – a broader measure of raw-materials shipping costs, fell for the fourth day, sliding one per cent to 1,110 points, amid a surplus of available ships to haul cargoes. Amidst slowdown, Shipping Corporation of India has decided against going in for any capital expenditure to acquire vessels this fiscal.
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