Baltic Dry Index Week 48
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.
BDI – Week 48
The overall bulker earnings had a good week, fueled by the rebound in Capesize earnings Monday and Tuesday. The Panamax market bounced back from recent lows and earnings are now at a profitable level for most owners. There are plenty of optimistic people across the sector but the “winter rates” are yet to be seen…
Weekly change: Closed at 1.231 points, up 12,63% w-o-w.
BCI – Baltic Capesize Index (40% of BDI)
The positive momentum from late last week continued Monday with a 28,2%(!) rate gain, and continued Tuesday up another 21%. The market slowed down on Wednesday with a 2,3% rate fall and continued Thursday with another 8,1% fall. The conclusion of a very volatile week on Friday with another 8,6% drop. All in all, a good week for the Capesize owners with a close to 30% rate hike.
Weekly change: Closed at $13.816, up 27,30% w-o-w.
BPI – Baltic Panamax Index (30% of BDI)
Panamax rates have been under pressure throughout last week but showed strength on this week’s first day; up 1%, climbing above $11.000. Earnings kept soaring 2% on Tuesday, and another 2% on Wednesday. The weaker earnings among the Capes put some pressure on Panamax earnings on Thursday, but nevertheless earnings rose 0,8%. The Panamax sector found some solid ground this week and finished Friday’s trading up 0,5%.
Weekly change: Closed at $11.694, up 6,35% w-o-w.
BSI – Baltic Supramax Index (30% of BDI)
Supramax earnings fell 0,4% on Monday. The slightly negative development continued Tuesday down 0,3%, and 0,3% on Wednesday. On Thursday the recent pressure was eased, and rates soared 0,3%, which continued Friday up 0,1%.
Weekly change: Closed at $10.622, down 0,05% w-o-w.