Baltic Dry Index advances to above 1400 points
Time:Thu, 23 Nov 2017 05:43:49 +0800
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The main sea freight index at Baltic Exchange for ships carrying dry bulk commodities advanced to above 1400 points on Wednesday driven by higher cape, supramax and panamax indices.
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 another 17 points to 1413 points on Wednesday.
Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
