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Baltic Dry Index 1985 - 2022. The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange. The BDI is a composite of the Capesize, Panamax and Supramax timecharter averages. It is reported around the world as a proxy for dry bulk shipping stocks as well as a general shipping market bellwether.
The Baltic Dry Index, the major index of dry bulk shipping rates, fell from a peak over 7,000 in 2007 to a low of 648 in March 2012. [15] Lauritzen's revenues are driven by charter rates [16] and thus the company has struggled through the recession. J.
The exchange is the source of market-wide information and publishes seven daily indices made up from a suite of wet and dry bench-marked time-charter and voyage routes: Baltic Dry Index (BDI) Baltic Panamax Index (BPI) Baltic Capesize Index (BCI) Baltic Supramax Index (BSI) Baltic Handysize Index (BHSI) Baltic Dirty Tanker Index (BDTI)
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Some shippers choose instead to charter a ship, paying a daily rate instead of a set price per ton. [53] In 2005, the average daily rate for a Handymax ship varied between $18,000 – $30,000. [53] A Panamax ship could be chartered for $20,000 – $50,000 per day, and a Capesize for $40,000 – $70,000 per day. [53]
Foremost has built its fleet in shipyards in Asia with financing from major American, Taiwanese, and European banks. [9] As is typical to the industry, it does not directly contract for the movement of cargo but instead charters its vessels to charterers such as major agricultural companies or other dry bulk commodities shippers.
Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo. For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000.
Chartering is an activity within the shipping industry whereby a shipowner hires out the use of their vessel to a charterer. The contract between the parties is called a charterparty (from French charte partie 'parted document').