Baltic Dry Index approached almost the 1500-point mark last week

29.09.2017

Last week Baltic Dry Index increased 109 points (+8.01%) to 1470 points. Six consequent sessions of growth allowed BDI to gain its positions, approaching the 1500-point mark, mainly owing to the large-tonnage transportation sector, reports UkrAgroConsult.

Capesize Index, which grew 11.58% and set a three-year record, remained the main bullish driver for Baltic Freight Index. Quotations for large-capacity bulk carriers that specialize in ore and coal shipping kept growing due to China's excessive appetite for imports of raw materials from Australia, Brazil and South Africa. Owners of Handysize/Supramax type vessels continued to raise transportation prices due to an increased demand for this type of tonnage in regional markets, which was reflected in strengthening of relevant BDI sectors and ensured an additional support.

 

UkrAgroConsult

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