BDI – Baltic Dry Index
The Baltic Dry Index (BDI) is a shipping and trade index created by the London-based Baltic Exchange that measures change in the cost of transporting various raw materials. The exchange directly contacts shipping brokers to assess price levels for a given route, a product to transport and time to delivery, or speed. The index consists of the Capesize index (BCI), Panamax index (BPI) and Supramax index (BSI), all created by Baltic Exchange.
The Chinese “Golden Week” has historically had an impact on the dry bulk market. This year was not any different. However, the impact this year was rather small across all segments. This might be a very bullish sign for the months to come.
Weekly change: Closed at 1.536 points, down 0,26%
BCI – Baltic Capesize Index (40% of BDI)
Despite the Chinese “Golden Week” the week kicked off with a 2,2% rate hike on Monday. Tuesday was another good day with a 2,5% rise. Wednesday was rather flat with a 0,5% surge. The Chinese Golden Week affected the rates on Thursday, with a 3,5% fall, and continued Friday down 3,3%.
Weekly change: Closed at $18.350, down 1,76%
BPI – Baltic Panamax Index (30% of BDI)
The Panamax segment started the week with a 0,1% revert on Monday. Tuesday the rates fell another 0,9%. The development changed on Wednesday, up 0,1%. Thursday and Friday the rates surged 1,6% and 1,2% to the highest level in months despite the Chinese Holiday season.
Weekly change: Closed at $13.595, up 1,86%
BSI – Baltic Supramax Index (30% of BDI)
Supramax earnings ended Monday on the same level as Friday but fell 0,3% on Tuesday. The earnings firmed slightly 0,1% on Wednesday, and another 0,2% on Thursday. Friday the rates came off 0,4%.
Weekly change: Closed at $12.980, up 0,4%