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Main Sea Freight Index at Baltic Exchange Continues to Drop to 813 Points

iconOct 27, 2016 14:14
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to drop on Tuesday mainly due to lower cape index.

UNITED KINGDOM October 26 2016 5:38 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities continued to drop on Tuesday mainly due to lower cape index.
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 13 points to 813 points on Tuesday.
The Baltic Dry Index accelerated its descent this week, as expected, but with the downside gaining extra impetus there is concern that the best is over for the year. 
While the BDI typically sees its price peak in the October-December period, it is possible that the highs reached in September will not be rescaled. Even worse, once winter hits it is typical for the BDI to experience significant downside.

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