Baltic Dry Freight Index dropped by 77 points, to 3021 points as of March 29th, the Exchange trading data said. The BDI has continued its downward slope since March 15 this year.
The BDI reached its 4661 maximum value for 2009 on November 19.
The BDI gained its highest level ever (more than 11700 points) in May 2008, beginning its slump in mid-July the same year. In Dec.5, 2008 it was at 663 pts, a minimum BDI rate.
BDI is an index that reflects changes in the value of the marine transportation of raw materials: metal, iron ore, coal and grain. The index includes three other indexes of freight rates, different sizes of ships for which they are calculated - Capesize, Supramax and Panamax. Dynamics of changes in BDI allows investors and market traders to analyze major trends in world demand and supply. Often the index is considered as the main indicator of future economic growth (if the index increases) or recession (if it falls), since the raw material on which the index is calculated, has a low potential for speculative operations.
The BDI reached its 4661 maximum value for 2009 on November 19.
The BDI gained its highest level ever (more than 11700 points) in May 2008, beginning its slump in mid-July the same year. In Dec.5, 2008 it was at 663 pts, a minimum BDI rate.
BDI is an index that reflects changes in the value of the marine transportation of raw materials: metal, iron ore, coal and grain. The index includes three other indexes of freight rates, different sizes of ships for which they are calculated - Capesize, Supramax and Panamax. Dynamics of changes in BDI allows investors and market traders to analyze major trends in world demand and supply. Often the index is considered as the main indicator of future economic growth (if the index increases) or recession (if it falls), since the raw material on which the index is calculated, has a low potential for speculative operations.