The Baltic Dry index, which measures the cost of shipping goods worldwide, advanced by 5.6% to 1,816 points on Friday, its highest in over a month and a half, reversing a 1.5% decline in the previous session. The capesize index, which tracks iron ore and coal cargos of 150,000 tonnes, surged by 14.4% to 2,206 points; and the supramax index rose for the eighth consecutive session, adding 15 points to 1,652 points. Meanwhile, the panamax index, which tracks about 60,000 to 70,000 tonnes of coal and grains cargoes was down for the third day, decreasing by 0.2% to 1,995 points. For the week, the Baltic Dry Index gained 16.8%, notching its fourth straight weekly gain.
Historically, Baltic Exchange Dry Index reached an all time high of 11793 in May of 2008. Baltic Exchange Dry Index - data, forecasts, historical chart - was last updated on September of 2022.
Baltic Exchange Dry Index is expected to trade at 1724.11 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 1475.50 in 12 months time.