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Baltic Dry Index hits new record low

Today’s Baltic Dry Index (BDI) is 504 points, down 15 points on yesterday’s level and a new all-time low for the freight index.

The BDI’s previous low point came on February 18 this year, when the index was assessed at 509 points.

Perhaps unsurprisingly, capesize bulkers have dragged the BDI down to these new depths. The Baltic Cape Index lost 52 points to reach 619 points today. Cape TCA spot rates similarly lost $317 and were today assessed at $5,280 per day.

Phaethon today fixed Thenamaris’ brand-new capesize  Seafighter on a trip charter from Xingang to Singapore via Western Australia for just $6,000 per day (laycan November 18-22).

The Baltic indices for supramaxes, panamaxes and handysize bulkers all posted declines today, but to a less exaggerated extent.

Previous to the lows seen in 2015, historical Baltic Exchange data shows the BDI touched a record low of 554 points on four previous occasions on July 31, 1986, and August 4-6, 1986, back when it was known as the Baltic Freight Index.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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