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>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >