Baltic Dry Index Drops to 1,034 Points

Image Courtesy: Diana Shipping

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>

<< May 2018 >>
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

Posidonia 2018

Posidonia, the international shipping exhibition, has long been established as one of the major calendar events…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

THE 7TH EDITION OF NAVALIA, INTERNATIONAL SHIPBUILDING EXHIBITION 2018

The event wanted to be from the beginning a reference for the naval sector and to serve as a tool to attract investors and contracts for the industry…

read more >

BlueWeek2018

The BlueWeek2018 will be held on 28-29-30 May in Rotterdam, under the auspices of the Blue Forum…

read more >