The Baltic Exchange's main sea freight index, which measures the cost of shipping goods worldwide, was down for the 16th straight session on Friday, falling about 1.9% to an over three-month low of 919 points. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, declined 2.5% to a more than three-month low of 1,116 points; and the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, was unchanged at its lowest since February 22. Among smaller vessels, the supramax index shed 28 points, or about 3.3% to its lowest since late February at 819 points. The benchmark index slumped about 21.6% this week, its biggest decline since early January.
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 June of 2023.
Baltic Exchange Dry Index is expected to trade at 1108.95 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 939.48 in 12 months time.