Main sea freight index at Baltic Exchange remains flat at 804 points

UNITED KINGDOM September 13 2016 5:37 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities remained flat on Monday as demand to ship raw materials ahead of winter heats up. 

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 stable at 804 points on Monday.

Index is likely to support by resolve disruptions to container cargo transport caused by world largest shipping companay Hanjin Shipping. Last week, its bankruptcy filing created crisis with many ports. Traders are speculation that demand will pick up in coming days as US Labor Day weekend ended this week.