Freight rates have fallen to levels never seen before, 60% since August, and are currently 25% below the worst days of 2008. The Baltic Exchange’s main sea freight index (BDI), which gauges the cost of shipping cargoes including iron ore, cement, grain, coal and fertilizer, fell to 551 points yesterday. Historically, the Baltic Exchange Dry Index reached an all-time high of 11,612 in August 2008 and a record low of 498 in November of 2015. Unlike stock and bond markets, the BDI is totally devoid of speculative content and reflects the real economy, since people don't book freighters unless they have cargo to move. |
Showing posts with label Baltic Dry Index. Show all posts
Showing posts with label Baltic Dry Index. Show all posts
Wednesday, December 9, 2015
Race To The Bottom: Baltic Dry Index Collapsed To New All-Time Low
Labels:
Baltic Dry Index,
Global Depression
Monday, August 24, 2015
Shipping Indices Reflecting Real Economy
Baltic Dry Index (HERE) |
The BDI is the main sea freight index at the Baltic Exchange for ships carrying dry bulk commodities. The BDI peaked out at 1,222 in early August and continued to drop to 994 points last Friday, mainly due to weak panamax rates. The overall index factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels.
Shanghai Containerized Freight Index (HERE) |
Subscribe to:
Posts (Atom)