Baltic Dry Index Drops to 1,034 Points

Baltic Dry Index (BDI) has fallen for the eleventh straight session marring its recovery trend from March this year. The index is now at 1,034 points, down by 39 points.

This is a considerable fall from the 1,282 point mark BDI passed on March 27, 2017.

Cape index had the worst decline this week having dropped by 126 points, reaching 1,542 points. The Panamax index recorded a drop of 44 points stopping at 1,096 and the Supramax index was down by 14 points now standing at 835 points.

Average daily earnings on Wednesday, May 3, for Capesizes stood at USD 11,840, falling by USD 758. The Panamaxes earned USD 8,806 while Supramax rates stood at USD 9,207 down by USD 356 and USD 143 respectively.

The latest downward trajectory of the BDI is in line with BIMCO’s forecast on the sector’s outlook, according to which for the market’s recovery to be meaningful, full year profits for all dry bulk segments should be maintained.

That would require a full year where the average BDI is above 1,280 points, according to BIMCO.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 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

CruiseConnect Global 2019

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

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >