Freight cost Baltic Dry index (BDI) went up to the annual maximum as of November 17 having reached 4381 points. As per exchange data, the index reached its previous maximum in 2009 (4291 points in June).
The index has gone up by 1300 points since early November, 2009 which can be characterized as a very expansive growth.
More details on the reasons of freight cost growth can be found here.
It is necessary to mention the index reached its maximum (over 11700 points) in May, 2008 and its plummet started mid July the same year. BDI index was at its minimum of 663 points on December 5, 2008.
BDI is an index reflecting raw materials sea freight – metal, iron ore, coal and grain. The index comprises three other freight costs that differ in the vessels dimensions for which they are calculated - Capesize, Supramax and Panamax. BDI change dynamics enables investors and market participants analyze main tendencies of world demand and supply. The index is often referred to as the basic indicator of the future economic growth (if index grows) or recession (if it falls) as the raw materials on the basis of which the index is evaluated has low potential for speculative operations.
The index has gone up by 1300 points since early November, 2009 which can be characterized as a very expansive growth.
More details on the reasons of freight cost growth can be found here.
It is necessary to mention the index reached its maximum (over 11700 points) in May, 2008 and its plummet started mid July the same year. BDI index was at its minimum of 663 points on December 5, 2008.
BDI is an index reflecting raw materials sea freight – metal, iron ore, coal and grain. The index comprises three other freight costs that differ in the vessels dimensions for which they are calculated - Capesize, Supramax and Panamax. BDI change dynamics enables investors and market participants analyze main tendencies of world demand and supply. The index is often referred to as the basic indicator of the future economic growth (if index grows) or recession (if it falls) as the raw materials on the basis of which the index is evaluated has low potential for speculative operations.