Baltic Dry Index Hits Its Lowest Point

The Baltic Dry Index (BDI) fell to 504 points on Thursday, hitting the lowest point in almost thirty years.

The BDI dropped by 15 points, a 2,89 percent decrease against the numbers on November 18, and a 36 percent decrease for this year.

Such low results are caused by a reduction in the cost of shipping commodities and China’s economic growth stall, which is in turn affecting the demand for imports of iron ore and coal.

A 7.2 percent drop, to USD 4,015, was reported in day rates for Capesize vessels, and a 1.9 percent decrease to USD 3,737, for Panamaxes. Other ship types also experienced a drop in day rates.

The market experienced its second lowest point back in February when the BDI fell to 522 points.

Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange which provides an assessment of the price of cargo shipping. BDI covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >