Cost Of Shipping Goods Worldwide, Fell 5.1% To 874 Points

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A recent news article published in the Trading Economics talks about Baltic Exchange Dry Index.

Baltic Exchange’s dry bulk sea freight index

The Baltic Exchange’s dry bulk sea freight index, which measures the cost of shipping goods worldwide, was down for the second straight session on Wednesday, falling about 5.1% to an over 2-1/2-year low of 874 points, amid subdued demand ahead of the Lunar New Year holiday in China.

The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, slumped about 10.7% to a two-month low of 1,107 points; and the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, was down about 0.3% to 1,075 points.

The supramax index fell for the 19th consecutive day

Among smaller vessels, the supramax index fell for the 19th consecutive day by 4 points to 657 points.

Baltic Exchange Dry Index is expected to trade at 897.56 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 766.64 in 12 months time.

Historically, Baltic Exchange Dry Index reached an all time high of 11793 in May of 2008. Baltic Exchange Dry Index – data, forecasts, historical chart – was last updated on January of 2023.


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Source: Trading Economics


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