As of April 27th, Baltic Dry Freight Index jumped 183 points to settle at 3203 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, up to more than 11,700 points, beginning its slump in mid-July the same year. In Dec.5, 2008 it settled at 663 pts, a minimum BDI rate.
Baltic Dry Freight is an index reflecting changes in the value of the overseas shipments of basic commodities: 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, up to more than 11,700 points, beginning its slump in mid-July the same year. In Dec.5, 2008 it settled at 663 pts, a minimum BDI rate.
Baltic Dry Freight is an index reflecting changes in the value of the overseas shipments of basic commodities: 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.