Main sea freight index at Baltic Exchange drops for the first time in a week

Published: Jul 21, 2016 09:27

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The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped on Tuesday for the first time in a week mainly due to strong cape, panamax and supramax rates.

UNITED KINGDOM July 20 2016 3:17 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities dropped on Tuesday for the first time in a week mainly due to strong cape, panamax and supramax rates.

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 02 points to 746 points on Tuesday.

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

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