Main sea freight index at Baltic Exchange gain further to 925 points

UNITED KINGDOM January 17 2017 1:09 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities gained further on Monday boosted by higher cape index.

The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes measured on a time charter basis, gained by 15 points to 925 points on Monday.

Continuing late, last week upside momentum which followed some fairly consistent losses. The BDI has had a slow start of the year, tracking the normal, seasonal slowdown that generally occurs in January through the Chinese New Year. Then, a snap-back rally can occur as China restocks following the market hiatus.