- The Baltic Exchange’s main sea freight index, the Baltic Exchange Dry Index, fell for a second day to 1,086 points, driven by larger vessel segments.
- The capesize index, panamax index, and supramax index all fell.
- The index is expected to trade at 1021.03 points by the end of this quarter, with an all-time high of 11793 in May 2008.
A Trading Economics news source highlights the summary, forecast and stats in relation to the Baltic Exchange’s main sea freight index.
Cost of shipping goods worldwide
The Baltic Exchange’s main sea freight index, which measures the cost of shipping goods worldwide, was down for a second day on Thursday, falling 8 points to 1,086 points, pressured by the larger vessel segments.
The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, slumped 2.6% to a near six-month low of 1,094 points; the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell 1.2% to 1,503 points. Meanwhile, the supramax index rose about 2.1% to 962 points. The benchmark index declined 3.6% for the month of August.
Expected to trade at 1021.03 points
Baltic Exchange Dry Index is expected to trade at 1021.03 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 862.70 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 September of 2023.
About 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.
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Source: Trading Economics
