The Baltic Dry Index rose 1.5% to a near 11-year peak of 3,053 on Friday, extending its winning streak to 13 sessions, mainly supported by rising iron ore demand from China. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, advanced 2.6% to 4,896, its highest level since September of 2019; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and iron ore, gained 1.1% to 2,672. Among smaller vessels, the supramax index shed 7 points to 2,144. The Baltic Dry Index rose 49% in April, the fifth straight month of gains and the most since June 2020.
. source: Baltic Exchange
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 May of 2021.
Baltic Exchange Dry Index is expected to trade at 2820.97 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 2225.33 in 12 months time.