Baltic Dry Index stays above 1000-point mark for second day

Baltic Dry Index stays above 1000-point mark for second day

Athens: Just five months after the Baltic Dry Index (BDI) recorded its lowest ever level, the index today has been assessed at 1,048 points – the second consecutive trading in over seven months that the level has remained above the 1,000-point mark.

Yesterday, the BDI was assessed at 1,009 points, the highest level the index has posted since November 24, 2014, when it was 1,153 points.

The BDI has grown by 148 points since Monday, spurred by strengthening capesize rates. The Baltic Cape Index has climbed 293 points since July 10, closing at 1,611 points yesterday.

The BDI reached its lowest ever level of 509 points on February 18 this year, before which it had been years since the index posted such all-time lows. The index touched 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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