Reuters — The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, marginally rose on Friday on improved rates for smaller vessels. The overall Baltic Dry Index (BDI), which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, rose for the sixth consecutive session by […] Read more
Tag Archives ocean freight — page 3
Smaller vessels bump up ocean freight index
Ocean freight index bobs up from recent floor
CNS Canada –– The Baltic Dry Index is finally starting to show some stability after setting fresh record lows on a near-daily basis for the past few months. The BDI set a record of 290 points on Feb. 10, but has since posted gains for the past four sessions, settling at 301 on Tuesday. It […] Read more
Baltic index slips to fresh low, demand concerns persist
Reuters — The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, slipped to another all-time low Tuesday on worries about vessel oversupply and slowing global demand. The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, fell four points or […] Read more
Baltic Dry Index trolls new depths, again
CNS Canada — The ocean floor remains one of the few unexplored mysteries of the world — but commodity shippers are now exploring how much lower the floor can go for the cost of ocean freight. The Baltic Dry Index (BDI) was quoted at 325 points on Thursday, marking a new low since records began […] Read more
Vessel demand concerns extend Baltic index fall
Reuters — The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, extended its record low run to a 14th straight session on Friday on persistent vessel glut and weak demand. The overall Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal […] Read more
Ocean freight cost index breaks another floor
CNS Canada — The Baltic Dry Index (BDI) continues its downward slide, dropping below 400 points for the first time ever as ocean freight rates struggle to find their bottom. The BDI was quoted at 394 points on Wednesday, marking a new low since records began in 1985. The index was trading above 1,200 as […] Read more
China and vessel glut drive Baltic index to fresh low
Reuters — The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, slid to a fifth consecutive record low on Monday on economic worries about China and a surplus of vessels. The overall index, gauging the cost of shipping dry bulk cargoes including grain, iron ore, cement, coal and fertilizers, […] Read more
Baltic Dry Index continues downward slide
CNS Canada — A downtrend in ocean freight rates shows no sign of letting up, as the Baltic Dry Index again hit fresh historic lows. The Baltic Dry Index (BDI) was quoted at 445 points on Thursday, marking a new low since records began in 1985. The index was trading above 1,200 as recently as […] Read more
Ocean freight rate index at historic low, again
CNS Canada –– The Baltic Dry Index, which gauges the price of moving grain and other goods by sea, is down to new historical lows, less than a month after setting the former floor. The BDI, compiled daily by the London-based Baltic Exchange, was quoted at 471 points on Wednesday after falling below 500 points […] Read more
Low ocean freight rates likely to stick around
CNS Canada –– Ocean freight rates are at some of their lowest levels ever and will likely stay that way for at least the next two years, according to an industry analyst. “We’re near hitting bottom, but just because we hit bottom it doesn’t mean we won’t scrape along it for awhile,” said Jay O’Neil, […] Read more
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