Main sea freight index at Baltic Exchange falls further to 1243 points
LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities fell further to 1243 points on Thursday led by lower cape, panamax and supramax rates.
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, declined by another 35 points to 1243 points on Thursday.
Spring is a typical high demand period for the BDI as China stocks up on raw materials for summer building season and while harvest season gets underway.
The summer can be a bit of a lull, but fall once again sees an uptick in demand for seaborne trade before winter. Depending on the year, the BDI may either peak in the spring or winter. This year, it looks like spring may be the BDI’s best season.