Home / Metal News / Main sea freight index at Baltic Exchange continues to drop to 582 points

Main sea freight index at Baltic Exchange continues to drop to 582 points

iconJun 22, 2016 09:05
Source:SMM
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to drop on Monday mainly due to lower demand for capesize vessels.

UNITED KINGDOM June 21 2016 3:16 PM     

LONDON (Scrap Register): The main  sea freight index at Baltic Exchange for ships carrying dry bulk commodities  continued to drop on Monday mainly due to lower demand for capesize  vessels.

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, down by another 5  points to 582 points on Monday.

The Baltic Dry Index continued to trade  in the 600-610 point range for the second week in a row, indicating that the  market has hit a balance point since rallying off of the all-time low it hit in  February.

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.


The main sea freight index at Baltic Exchange

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All