As of July 1st, Baltic Dry Freight Index settled at 2351 points, 55 points down from June 30th..
In May of 2008 BDI hit its record high ever, 11,700 points, beginning its steep slope in mid-July. In Dec.5, 2008 it slumped to 663 pts, the Baltic Dry Index record low. In November, 2009 BDI gained 4661pts.
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.
In May of 2008 BDI hit its record high ever, 11,700 points, beginning its steep slope in mid-July. In Dec.5, 2008 it slumped to 663 pts, the Baltic Dry Index record low. In November, 2009 BDI gained 4661pts.
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.