As of Thursday 28th of September 2023
|Index||Latest||Percent Change||6M High||6M Low||Date High||Date Low|
|Breakwave Dry FFA||985.85||+0.54%|
The Breakwave Dry Freight Futures Index (BDRYFF) is designed to track the dry bulk market through freight futures contracts with a weighted average maturity of approximately 60-70 days and a sector weighting of 50% Capesize contracts, 40% Panamax contracts and 10% Supramax contracts.
The Breakwave Dry Freight Futures Index is a useful tool for market participants to gauge the expectations of the market for the near-term direction and level of spot rates. Although the weighting of the different asset classes slightly differs from the Baltic Dry Index (50%-40%-10% versus 40%-30%-30% for BDRYFF and BDI, respectively), historically the two indices have exhibited strong positive correlation of more than 85% over the past five years.
For more information on the construction and methodology of the index, please visit www.breakwaveadvisors.com/publications