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Main sea freight index at Baltic Exchange down further to 802 points

iconOct 28, 2016 09:48
The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities down further on Wednesday.

UNITED KINGDOM October 27 2016 3:12 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities down further on Wednesday with shipping commenting that while cargoes remain plentiful, customers are taking a wait-and-see approach, hoping for a further fall in shipping rates with the typical, seasonal slowdown approaching.

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 11 points to 802 points on Wednesday.

At around the same time last year, the BDI was at 759 points, just slightly below its current 831 point value. This small difference in the BDI’s value on a year-over-year basis is concerning considering we saw a steady improvement in hire rates over the summer, compared to the prior season.

BDI

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