LONDON (Scrap Register): The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities has climbed further to reach 1266 points on Monday supported by an increase in 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, gained by another 06 points to 1266 points on Monday.
The BDI’s ascent is being powered by China’s growing appetite for commodities, but there are some concerns of a pending slowdown. China’s property cooling measures appear to be taking effect, and that could set the BDI up for a fall later in the year.