As of April 8th, Baltic Dry Freight Index dropped by 25 points and settled at 2922 points, the Exchange trading data said.
The BDI reached on November 19th 4661 points, the Index maximum for 2009. In May, 2008 BDI gained its highest level ever, more than 11700 points, 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 on November 19th 4661 points, the Index maximum for 2009. In May, 2008 BDI gained its highest level ever, more than 11700 points, 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.