Global Shipping Costs Jumped 1.2% to 1,078 Points

By
Mfame Editor
-
270
Credit: laurenz-heymann-unsplash

A recent news article published in the Baltic Exchange states that cost of shipping goods worldwide, rose about 1.2% to 1,078 points.

Baltic Exchange’s main sea freight index

The Baltic Exchange’s main sea freight index, which measures the cost of shipping goods worldwide, rose about 1.2% to 1,078 points on Tuesday, after two straight sessions of decreases that sent the index to the lowest in a week. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, advanced 3.2% to 1,540 points; and the supramax index added 8 points at 759 points. Meanwhile, the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell about 1.6% to 1,174 points.

Price Day Month Year
Baltic Dry 1,078.00 13.00 1.22% -21.03% -56.60%
CRB Index 296.96 -3.71 -1.23% 2.66% -9.87%
LME Index 3,789.00 -17.40 -0.46% 3.14% -10.57%
S&P GSCI 3,288.32 -37.52 -1.13% 3.17% -18.03%
EU Carbon Permits 99.28 2.70 2.80% 7.89% 17.17%
Wind Energy Index 308.09 -0.42 -0.14% -0.20% 5.01%
Nuclear Energy Index 1,596.96 -0.07 0% 6.17% 20.56%
Solar Energy Index 329.96 -5.22 -1.56% -0.39% -4.61%

 

Actual Chg %Chg
Crude Oil 71.364  0.174 0.24%
Brent 76.085  0.185 0.24%
Natural gas 2.4939  0.0019 0.08%
Gasoline 2.6054  0.0038 -0.15%
Heating Oil 2.4827  0.0073 0.29%
Gold 1937.68  1.77 0.09%
Silver 23.136  0.049 -0.21%
Copper 3.8918  0.0133 0.34%
Soybeans 1485.75  8.5 0.58%
Wheat 704.76  9.01 1.29%
Coal 126.55  1.80 -1.40%
Steel 3731.00  11 -0.29%
Iron Ore 116.50  0.50 -0.43%
TTF Gas 38.71  3.81 10.92%
Lumber 538.50  13.50 2.57%
More

Baltic Exchange Dry Index is expected to trade at 1016.82 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 858.11 in 12 months time.

Baltic Exchange Dry Index

The Baltic Dry Index is reported daily by the Baltic Exchange in London. The index provides a benchmark for the price of moving the major raw materials by sea. The index is a composite of three sub-indices that measure different sizes of dry bulk carriers: Capesize, which typically transport iron ore or coal cargoes of about 150,000 tonnes; Panamax, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes; and Supramax, with a carrying capacity between 48,000 and 60,000 tonnes. The Baltic Dry Index takes into account 23 different shipping routes carrying coal, iron ore, grains and many other commodities.
Actual Previous Highest Lowest Dates Unit Frequency
1078.00 1065.00 11793.00 290.00 1985 – 2023 points Daily

 

Did you subscribe to our newsletter?

It’s free! Click here to subscribe!

Source: Trading Economics