Nippon Yusen K.K., Japan's biggest shipping line and Mitsui O.S.K. Lines Ltd., Japan's largest operator of dry-bulk ships, gained in Tokyo trading after rates for carrying bulk commodities including grains rose for a fourth day.
Mitsui O.S.K. rose 3.8 percent to 1,132 yen at the close of trading in Tokyo. Nippon Yusen advanced 4.4 percent and Kawasaki Kisen Kaisha Ltd., the third-largest, gained 3 percent.
The Baltic Dry Index, a measure of commodity-shipping rates, rose on Sept. 19 on anticipation of the U.S. harvest of beans and corn, the country's biggest crop. The Baltic index gained 3.6 percent last week, the first weekly advance since Aug. 15.
Demand for Panamax vessels to transport grains is pushing up the Baltic index and helping shares,'' said Yoshihisa Miyamoto, an analyst at Okasan Securities Co. in Tokyo. Still, the overall global economy is weakening so we could see the Baltic index faltering by the end of the week.''
The U.S. economy faces a 51 percent chance of a recession in the next year, according to economists. Growth this year is forecast to be 1.8 percent, the slowest since 2002.
Mitsui O.S.K. rose 3.8 percent to 1,132 yen at the close of trading in Tokyo. Nippon Yusen advanced 4.4 percent and Kawasaki Kisen Kaisha Ltd., the third-largest, gained 3 percent.
The Baltic Dry Index, a measure of commodity-shipping rates, rose on Sept. 19 on anticipation of the U.S. harvest of beans and corn, the country's biggest crop. The Baltic index gained 3.6 percent last week, the first weekly advance since Aug. 15.
Demand for Panamax vessels to transport grains is pushing up the Baltic index and helping shares,'' said Yoshihisa Miyamoto, an analyst at Okasan Securities Co. in Tokyo. Still, the overall global economy is weakening so we could see the Baltic index faltering by the end of the week.''
The U.S. economy faces a 51 percent chance of a recession in the next year, according to economists. Growth this year is forecast to be 1.8 percent, the slowest since 2002.