Baltic Dry Index climbs further to 964 points

UNITED KINGDOM July 21 2017 1:34 PM

LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities climbed further to 964 points on Thursday thanks to higher cape, panamax and supramax rates.

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, gained by another 16 points to 964 points on Thursday.

The BDI peaked at above 1300 points this spring. It has fallen as low as 822 points during its summer correction but, each time the BDI start to approach the low 800s it does not hover there for too long before tracking higher.