Maybulk shares at new high this year, Baltic Dry Index at 27-month high

Big catalyst: Maybulk’s post-panamax bulk carrier Alam Padu. Demand for iron ore and coal from China continues to be a major catalyst for the industry.

PETALING JAYA: Shares of Malaysian Bulk Carriers Bhd (Maybulk) rose to a new high this year as the company saw renewed trading interest with investors factoring in the higher recent demand for dry commodities from China as well as improved global macroeconomic prospects.

At the close, Maybulk’s stock closed at 83.5 sen, representing a seven-sen increase from Monday. To date, the stock has risen 17% and is trading at its highest point since July last year.