The Baltic Dry Index (BDI) was settling at around ~1,078 points (USD) on June 21st, 2023, having shown a relatively narrow trading pattern along the range of 1,000 – 1,100 in the previous couple of weeks.
In the earlier period, and specifically from May 10, 2023 until June 2, 2023 the BDI recorded a significant drop i.e. from 1,633 to 919 points, while before that and in particular from March 7, 2023 to May 10, 2023 the Index was trading along the channel of 1,300 – 1,650 points.
From June 2020 – June 2023, the Baltic Dry Index has been trading above the 1,000 level with the exception of only two periods, i.e. firstly the period January – February 2023, when the Index retreated significantly and traded as low as around 500 points, and secondly the period May – June 2023 mentioned above.
Despite the ongoing interest rate hikes of the past several months and central banks’ attitude to continue adopting a hawkish policy, the global economy continues to prove resilient and no signs of a major recession have emerged in the horizon so far.
As long as global economic growth stays in positive territory and major economies such as the US, China and Eurozone are in position to avoid a recession shock, the dry bulk shipping market as expressed by BDI may be in better position to sustain or even enhance its current pricing levels.
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BALTIC DRY INDEX as of June 21st, 2023 (latest price and intraday change):
BALTIC DRY INDEX as of March 1st, 2023 (latest price and intraday change):
BALTIC DRY INDEX as of February 15th, 2023 (latest price and intraday change):
BALTIC DRY INDEX as of November 23rd, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of October 12th, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of August 31st, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of July 6th, 2022 (latest price and intraday change):
Source: Bloomberg
FIGURE 1: Baltic Dry Index (BDI) (in USD) | February – June 21st, 2023
[Bloomberg ticker: BDIY:IND, BDI Baltic Exchange Dry Index]
Source: Bloomberg, Trading Economics, https://www.marinevesseltraffic.com/ , www.investing.com
FIGURE 2: Baltic Dry Index (BDI) (in USD) | 2014 – June 21st, 2023
[Bloomberg ticker: BDIY:IND, BDI Baltic Exchange Dry Index]
Source: Bloomberg, Trading Economics, https://www.marinevesseltraffic.com/ , www.investing.com
FIGURE 3: Baltic Dry Index (BDI) (in USD) | Last 38 Years up to June 21st, 2023
[Bloomberg ticker: BDIY:IND, BDI Baltic Exchange Dry Index]
Source: Bloomberg, Trading Economics, https://www.marinevesseltraffic.com/ , www.investing.com
