The Baltic Dry Index (BDI) can no longer accurately reflect how the dry bulk shipping market is performing, according to a latest analysis report by Bimco.
Baltic Dry Index (BDI) continued to strengthen this week due to lower bunker prices and higher forward freight agreement (FFA).
Baltic Dry Index (BDI) formed a new norm of staying above 1,000 points and even extended its gains toward the 1,100 mark this week.
Baltic Dry Index (BDI) continued to hold steady above the 1,000 point mark with better rates and more tonnage coming from the Atlantic and West Australia market.
The Baltic Dry Index (BDI) appeared to be a tight rope walker this week on the verge of falling off from the 1,000 mark.
The Capesize rate has breached over the $20,000 level on Wednesday, supported by the bullish steel demand in China. Initially, the rally in Capesize rates started early in the week, making the biggest gains for front months on Tuesday, 8 May 2018.
Not so many moons ago the Baltic Dry Index (BDI) found itself at the similar territory to where it is today with plunging rates as Lunar New Year approached. Then just days after the Lunar New Year, the BDI fell to lowest ever level at 290 points on ‘Black Wednesday’ of dry bulk shipping on 10 February 2016.
The Baltic Exchange is dropping handysizes from its key dry bulk market index the BDI.
Happy New Year to all. The Baltic Dry Index (BDI) closed at 1,262 points on Wednesday, up 32 points, seeming to extend the course of dry bulk recovery in 2018. New Year optimism some may say, but the high dry bulk index finds its backing on the robust capesize rates.