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.