Baltic Exchange Dry Index

The Baltic Exchange’s main sea freight index surged 103 points or 4.5% to 2,387 on Wednesday, the highest in a week and following a 1.1% increase in the previous session. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, rose 10.5% to 2,551; and the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes, gained 2.9% to 2,706. Also, the supramax index went up 3 points to 2,454. Historically, Baltic Exchange Dry Index reached an all time high of 11793 in May of 2008. The Baltic Dry Index is reported daily by the Baltic Exchange in London. The index provides a benchmark for the price of moving the major raw materials by sea. The index is a composite of three sub-indices that measure different sizes of dry bulk carriers: Capesize, which typically transport iron ore or coal cargoes of about 150,000 tonnes; Panamax, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes; and Supramax, with a carrying capacity between 48,000 and 60,000 tonnes. The Baltic Dry Index takes into account 23 different shipping routes carrying coal, iron ore, grains and many other commodities.

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