UNITED KINGDOM July 07 2017 12:45 PM
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities declined further to 829 points on Thursday driven by a decline in cape, panamax and supramax 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, dropped by another 18 points to 829 points on Thursday.
The BDI has been a bit volatile as traders digest an earlier than usual fall in the BDI against the potential for seaborne trade of iron ore and coal into China to slow later in the year.
At the same time, it is possible that China will end up importing more raw materials come the fall as it tries to curb industrial output to combat pollution.