The Baltic Dry Index (BDI) was trading at around ~1,904 points (USD) on October 12th, 2022 versus ~1,017 points on August 31st, 2022, ~2,145 points on July 20th and versus ~3,253 points on May 25th, 2022, ~1,644 points on January 19th, 2022, ~2,300 points on December 22nd, 2021 and vis-à-vis ~3,350 points during November 2021. That level compared to the 4,050-4,060 pts of October 27th, 2021 and to a trading level of around 5,380 pts on October 13, 2021. The above also compared to the trading level of 4,962 pts at the end of September 2021.
Concerning the period before that, the Baltic Dry Index traded at around 3,650 points in the middle of August 2021 versus 3,281 points on August 4th, 3,058 points on July 21st, 3,179 pts on July 5th, 2021, and 2,420 pts during May 2021.
Our previous blog a couple of weeks ago, with the BDI ranging at around 1,807 points, ended as follows: “… At this stage volatility is the name of the game as there will be exaggerations but also retreats for the BDI down the road depending on broader market sentiment prevailing in the global economy. It is definitely an era of a tripartite of determinant factors, namely inflation, interest rate hikes and upcoming recession which the market seems to believe that it will be a harsh one. No wonder the following months will be exciting enough with all the bets on the table. …“
Based on the behaviour of the index over the past 4 weeks, BDI is currently approaching the long-term historic average levels which are formed at around 2,000 pts (USD) and therefore this particular level might emerge as a psychological and at the same time strong resistance level. Market sentiment is not particular favourable at this stage with regard to the global macro-economic dynamics, whereas fundamentals of sector companies appear to be fragile but on the other hand in no way not doomed.
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 August 17th, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of July 6th, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of June 8th, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of May 25th, 2022 (latest price and intraday change):
BALTIC DRY INDEX as of April 27th, 2022 (latest price and intraday change):
Source: Bloomberg
FIGURE 1: Baltic Dry Index (BDI) (in USD) | June – October 12th, 2022
[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) | 2013 – October 12th, 2022
[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 36 Years up to October 12th, 2022
[Bloomberg ticker: BDIY:IND, BDI Baltic Exchange Dry Index]
Source: Bloomberg, Trading Economics, https://www.marinevesseltraffic.com/ , www.investing.com
