Higher supramax rate lifts Baltic Dry Index to 688 points
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced to 688 points on Wednesday mainly due to higher supramax rate.
The Baltic Dry Index, which provides an assessment of the price of moving the major raw materials – such as coal, iron ore and grain – by sea by taking in 23 shipping routes measured on a time charter basis, up by 03 points to 688 points on Wednesday.
Meanwhile, chaos remains at ports in Indonesia. Road blockages, bad weather and government delays in granting export and shipping licenses have left major delays in Kalimantan, the Indonesian side of Borneo Island. Indonesia is a key export hub for coal, and the delays are definitely impacting shipping of the commodity.