Main sea freight index at Baltic Exchange remains flat at 612 points

UNITED KINGDOM June 02 2016 5:07 PM     

LONDON (Scrap Register): The main  sea freight index at Baltic Exchange for ships carrying dry bulk commodities  remained flat on Wednesday due to lower demand for larger vessel segments.  

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, remained flat at  612 points on Wednesday.

The index is based on a daily survey of agents  all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the  index hit 11,793. The lowest level ever reached was on February 10 2016, when  the index plummeted to 290 points.