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Baltic Dry Freight Index Plummets Amid Commodities Slump
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The Baltic Dry Freight Index (BDI Index) dropped to 577 in Jan. 2015, its lowest level since 1987. The BDI Index went up to 11,793 in 2008. Capacity is about 20% higher than demand for dry bulk shipping vessels of commodities such as iron ore and coal. Analysts say tonnage of dry bulk vessels went up by 85% after 2008, just as the demand fell sharply.
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The Baltic Dry Freight Index (BDI Index) hits a low of 577 in Jan. 2015, the lowest in about 30 years.
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