The Baltic Dry Index climbed 9.6% to 2,710 on Wednesday, its highest since October of 2010 and extending gains for a sixth straight session. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, jumped 559 points, or 16.2%, to 4,014, a peak since early October of 2020, on increasing iron ore shipments from Brazil. At the same time, the panamax index which tracks cargoes of about 60,000 tonnes to 70,000 tonnes of coal and steel-making ingredient iron ore, surged 133 points, or 5.2%, to a three-week high of 2,690. Among smaller vessels, the supramax index gained 52 points to 1,977. 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 April of 2021.
Baltic Exchange Dry Index is expected to trade at 2284.13 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 1801.84 in 12 months time.