Baltic Sea Freight Index Higher for Sixth Straight Week as Benchmark Iron Ore Futures Surged

The Baltic Exchange’s dry bulk sea freight index rose 7.7% for the week. The BDI rose for the sixth consecutive weekly gain and to an eight-week high. Pressure came again from rising rates for capesize and supramax vessels. The capesize index rose another 14.7% after rising 36.4% last week, also its sixth consecutive weekly gain. The panamax index also rose, for the third week in a row. Benchmark iron ore futures in Dalian and Singapore surged Friday, adding to weekly … Continue reading “Baltic Sea Freight Index Higher for Sixth Straight Week as Benchmark Iron Ore Futures Surged”

Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%

The Baltic Exchange’s dry bulk sea freight index rose 14.2% for the week. The BDI rose for the fifth consecutive weekly gain and to a seven-week high. Pressure came again from rising rates for capesize and supramax vessels. The capesize index rose 36.4%, also its fifth consecutive weekly gain. The panamax index also rose, for the second week in a row. There was fresh activity in the grain market, Algeria’s state grains agency OAIC is believed to have purchased a … Continue reading “Baltic Sea Freight Index Higher for Fifth Straight Week Led By capesize index up 36.4%”

Demand For Larger Ships Pushes Baltic Sea Freight Index Higher for Fourth Straight Week

The Baltic Exchange’s dry bulk sea freight index rose 2.8% to 2,718 points on Friday. The BDI rose 13.1%, on the week, the fourth consecutive weekly gain and to a seven-week high. Pressure came again from rising rates for capesize and supramax vessels. The panamax index also rose, for the first time in three weeks, gaining 8.1% on the week. There was fresh activity in the grain market. Baltic Exchange Dry Index (BDI) Segments (May 8, 2022) The Baltic Exchange’s … Continue reading “Demand For Larger Ships Pushes Baltic Sea Freight Index Higher for Fourth Straight Week”

Baltic Sea Freight Index Gains for Third Straight Month in April

The Baltic Exchange’s dry bulk sea freight index rose 1 point to 2,404 on Friday, after falling 0.9% in the prior session. The BDI rose nearly 2% in April, the third straight month of rises. Pressure came from rising rates for capesize and supramax vessels. Turkey’s state grain board TMO has started making provisional purchases of wheat in an international import tender Baltic Exchange Dry Index (BDI) Segments (April 29, 2022) The Baltic Exchange’s dry bulk sea freight index rose … Continue reading “Baltic Sea Freight Index Gains for Third Straight Month in April”

Baltic Sea Freight Index Gains for Second Week Despite First Weekly Fall in Dalian Iron Ore in Two Months

The Baltic Exchange’s dry bulk sea freight index rose again this week for the second time in six weeks. The BDI was rose 8% after being up 4% last week. Pressure came from rising rates for capesize and supramax vessels. Chinese Dalian iron ore fell Friday posting its first weekly drop in two months, as demand weakness in top steel producer China outweighed supply risks flagged by the world’s biggest miners such as Rio Tinto. Baltic Exchange Dry Index (BDI) … Continue reading “Baltic Sea Freight Index Gains for Second Week Despite First Weekly Fall in Dalian Iron Ore in Two Months”

Baltic Exchange’s Dry Bulk Sea Freight Index Jumps to First Gain in Five Weeks

The Baltic Exchange’s dry bulk sea freight index rose this week for the first time in five weeks. The BDI was rose 4% this week. Pressure came from rising rates for panamax and supramax vessels. Chinese steel futures traded higher as investors looked for government measures to uplift its economy reeling from the new COVID spread and lockdown. Baltic Exchange Dry Index (BDI) Segments (April 14, 2022) The Baltic Exchange’s dry bulk sea freight index rose for a third straight … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Jumps to First Gain in Five Weeks”

Baltic Exchange’s Dry Bulk Sea Freight Index Suffers Third Straight Weekly Loss

The Baltic Exchange’s dry bulk sea freight index was lower this week for the third week in a row. The BDI was down 7.4% this week. Pressure came from falling rates for panamax and supramax vessels. Shipbroker Jefferies sees a recovery for 2022 with higher rates than last year rates “especially as most Western buyers of commodities try to diversify away from Russian cargoes”. Baltic Exchange Dry Index (BDI) Segments (March 25, 2022) The Baltic Exchange’s dry bulk sea freight … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Suffers Third Straight Weekly Loss”

Baltic Exchange’s Capesize index Falls 28% For the Week Pushing Dry Bulk Sea Freight Index Down Further

The Baltic Exchange’s dry bulk sea freight index was lower this week for the second week in a row. The BDI was down 2.3% this week. Pressure came from the capesize index down 82 points, or 4.2%, to 1,887 Friday, registering a weekly fall of about 28%. On the flipside the panamax index gained 34 points, or about 1%, to 3,413 points, up about 19% for the week. Baltic Exchange Dry Index (BDI) Segments (March 25, 2022) The Baltic Exchange’s … Continue reading “Baltic Exchange’s Capesize index Falls 28% For the Week Pushing Dry Bulk Sea Freight Index Down Further”

Baltic Exchange’s Dry Bulk Sea Freight Index Rose with Uncertainty Over Russian Attack on Ukraine

The Baltic Exchange’s dry bulk sea freight index was lower this week despite rising 4.1% Friday. The BDI saw upward pressure on rates later in the week from improved shipping demand. The Capesize index, jumped 228 points, or 15.8%, to 1,675. Average daily earnings for Capesize ships transport 150,000-tonne cargoes such as iron ore and coal, rose by $1,888 to $13,888. Baltic Exchange Dry Index (BDI) Segments (Feb 25, 2022) The Baltic Exchange’s dry bulk sea freight index rose on … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Rose with Uncertainty Over Russian Attack on Ukraine”

Baltic Exchange’s Dry Bulk Sea Freight Index Steady as Capesize Index Jumps Another 15.8%

The Baltic Exchange’s dry bulk sea freight index was lower this week despite rising 4.1% Friday. The BDI saw upward pressure on rates later in the week from improved shipping demand. The Capesize index, jumped 228 points, or 15.8%, to 1,675. Average daily earnings for Capesize ships transport 150,000-tonne cargoes such as iron ore and coal, rose by $1,888 to $13,888. Baltic Exchange Dry Index (BDI) Segments (Feb 18, 2022) The Baltic Exchange’s dry bulk sea freight index rose on … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Steady as Capesize Index Jumps Another 15.8%”