The Baltic Exchange's main sea freight index, a measure of global shipping costs, extended losses for the fifth successive day on Friday, falling about 1.3% to an over two-week low of 1,721 points. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, was down for the sixth straight session, dropping by 2.6% to its lowest since April 10th at 2,172 points; and the panamax index, which usually carries about 60,000-70,000 tons of coal or grain cargo, decreased by 1% to its lowest point since April 17th. Among smaller vessels, the supramax was up by 7 points to 1,495 points. The benchmark index declined above 10% for the week, on the back of lower demand in larger vessels.
Baltic Dry decreased 373 points or 17.81% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Baltic Exchange Dry Index reached an all time high of 11793.00 in May of 2008. Baltic Exchange Dry Index - data, forecasts, historical chart - was last updated on April 29 of 2024.
Baltic Dry decreased 373 points or 17.81% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Baltic Exchange Dry Index is expected to trade at 1818.23 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2110.77 in 12 months time.