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>

<< Sep 2019 >>
MTWTFSS
26 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
30 1 2 3 4 5 6

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >