The Baltic Dry Index, which measures the cost of shipping goods around the world, bounced back from a one-month low of 1,267 reached on September 11 helped by an uptick in capesize rates. Still, the index remains well below the multi-month peak of 1,956 touched on July 6th, as the tanker shipping industry has been under pressure due to lower oil production and demand as well as lower shipments of industrial commodities to Asia.
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 2020. source: Baltic Exchange
Baltic Exchange Dry Index is expected to trade at 1214.14 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 957.77 in 12 months time.