Reuters — The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, slid to a fifth consecutive record low on Monday on economic worries about China and a surplus of vessels. The overall index, gauging the cost of shipping dry bulk cargoes including grain, iron ore, cement, coal and fertilizers, […] Read more
China and vessel glut drive Baltic index to fresh low
Baltic Dry Index continues downward slide
CNS Canada — A downtrend in ocean freight rates shows no sign of letting up, as the Baltic Dry Index again hit fresh historic lows. The Baltic Dry Index (BDI) was quoted at 445 points on Thursday, marking a new low since records began in 1985. The index was trading above 1,200 as recently as […] Read more
Ocean freight rate index at historic low, again
CNS Canada –– The Baltic Dry Index, which gauges the price of moving grain and other goods by sea, is down to new historical lows, less than a month after setting the former floor. The BDI, compiled daily by the London-based Baltic Exchange, was quoted at 471 points on Wednesday after falling below 500 points […] Read more
Low ocean freight rates likely to stick around
CNS Canada –– Ocean freight rates are at some of their lowest levels ever and will likely stay that way for at least the next two years, according to an industry analyst. “We’re near hitting bottom, but just because we hit bottom it doesn’t mean we won’t scrape along it for awhile,” said Jay O’Neil, […] Read more
Baltic Dry Index hits record low
The Baltic Dry Index fell to its lowest levels ever on Friday, which bodes well for the competitiveness of Canadian grain exports. The BDI, a gauge of global ocean freight prices, was quoted Friday at 498 points — the first time the index dipped below 500 since records began in 1985. The index was trading […] Read more
Bulk shipping cost index sinks to 30-year lows
CNS Canada –– The Baltic Dry Index, which tracks global bulk shipping rates, has fallen to its lowest levels in 30 years, which should make North American grains and oilseeds more competitive in the international market. The index (BDI) was quoted Monday at 554 points, the lowest reading since records start in 1985. The index […] Read more
Prairie farmers to benefit from lower ocean freight rates
CNS Canada — Western Canada’s grain farmers are expected to benefit from recent lower ocean freight rates as the Baltic Dry Index (BDI), a measurement of such rates, has dropped significantly over the past couple of months. The BDI was quoted Friday at 749 points, up from a low of 709 points seen earlier in […] Read more
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