UNITED STATES December 13 2016 1:33 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities fell further to 1,069 points on Monday mainly due to weak cape and panamax indices.
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 further by 21 points to 1,069 points on Monday.
The BDI’s price shows seasonal patterns, with the index usually reaching its peak of the year in October-December, and its low in January or February.
This year, the BDI’s 1,257 point peak, which was a two-year high, occurred in November. The low of the year was in February when it plunged to 290 points amid concerns China’s economy was headed for a hard landing.
