Main sea freight index at Baltic Exchange continues to advance

Published: Jun 28, 2016 18:23

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The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced for a fourth straight session as higher demand propped up rates for panamax vessels.

UNITED KINGDOM June 28 2016 2:30 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced for a fourth straight session as higher demand propped up rates for panamax 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, up by another 07 points to 616 points on Monday.

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.

sea freight index BDI

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