The BDI settled at 3,346 points on Dec. 4, climbing by roughly 1,500 points in the span of eight sessions to hit its highest level since May 2022 before finally taking a breather on Dec. 5 to settle at 3,143 points.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels – including capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

Panamaxes and supramaxes are the primary grain transporting vessels, with panamax spot rates up 53 per cent over the past month to hit US$21,000 per day on Dec. 4, according to a report from Clarkson Securities. Supramax rates were up by 31 per cent over the same timeframe to hit US$16,400.

Restrictions moving through the Panama Canal were behind some of the rise in freight rates, with congestion issues at Brazilian ports compounding the issue, according to industry reports. Winter weather causing unloading delays in Europe and China were another factor, while recent attacks on several vessels in the Red Sea were raising concerns over movement through the Suez Canal.

While bulk rates have trended higher, container rates are holding relatively steady. Drewry’s World Container Index (WCI), which tracks container rates, was at US$1,382 per 40-foot container on Nov. 30, 2023. That was unchanged from the previous week but marks a 40 per cent drop from the same week a year ago.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with lower freight rates helping counter that disadvantage.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.

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The BDI, a major indicator of bulk shipping rates, settled at 2,058 points on Tuesday, marking the first close above 2,000 points since July 2022.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels — including capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

While bulk rates have trended higher, container rates have softened in recent months. As of Oct. 12, Drewry’s World Container Index (WCI), which tracks container rates, was at US$1,369 per 40-foot container (about C$1,878). That marks a 60.7 per cent drop from the same week a year ago and comes in at four per cent below the 2019 pre-pandemic average.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with lower freight rates helping counter that disadvantage.

— Phil Franz-Warkentin is an associate editor/analyst with MarketsFarm in Winnipeg.

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The BDI, a major indicator of bulk shipping rates, has risen for seven straight sessions to settle Monday at 935 points, up from the low of 530 points hit on Feb. 16. The BDI had traded above 3,000 points as recently as May 2022. Increased shipments of iron ore out of Brazil and Australia reportedly contributed to the increase in the BDI.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels such as capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

While bulk rates have shown some improvement, container rates remained in a steady downtrend. As of Feb. 23, Drewry’s World Container Index (WCI), which tracks container rates, was at US$1,898 per 40-foot container. That marked an 82 per cent drop from the peak hit in September 2021 and is 30 per cent below the 10-year average. However, the Drewry WCI is still up from the pre-pandemic rates averaging US$1,420 in 2019.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with lower freight rates helping counter that disadvantage.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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A seasonal slowdown of cargo movement ahead of the Chinese New Year was seen as contributing to the latest softness, despite easing COVID-19 restrictions in the country and expectations for increased demand for commodities.

The BDI, a major indicator of bulk shipping rates, settled at 946 points on Friday, marking its lowest level in two-and-a-half years. The BDI had traded above 3,000 points as recently as May 2022.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels — including capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

Container rates have also come down lately. As of Tuesday, Drewry’s World Container Index (WCI), which tracks container rates, has fallen by 77 per cent compared to the same time a year ago. The composite index of US$2,120 per 40-foot container compares with the peak of US$10,377 hit in September 2021 and is about 21 per cent below the 10-year average. However, the Drewry WCI is still up from the pre-pandemic rates averaging US$1,420 in 2019.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with lower freight rates helping counter that disadvantage.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, settled at 1,149 points on Tuesday, marking its ninth-straight decline and only slightly above the yearly low of 965 points hit at the end of August.

The BDI, compiled by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels — including capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with lower freight rates helping counter that disadvantage.

Container rates have also come down lately as global recessionary concerns and mounting supplies of empty containers at many worldwide ports weighed on prices.

As of Nov. 17, 2022, Drewry’s World Container Index, which tracks container rates, has fallen by 72 per cent compared to the same time a year ago. The composite index of US$2,591 per 40-foot container compares with the peak of US$10,377 hit in September 2021 and is well below the five-year average of US$3,764.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 2,081 points on Monday, up 14 points from Friday’s close but near the lowest levels in three months.

The index has lost roughly 1,300 points over the past six weeks, although it still well above the lows of the calendar year near hit in January.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels — including capesize, panamax and supramax. It is often seen as a leading indicator of global economic activity.

Canada is at a freight disadvantage compared to its competitors exporting grains and oilseeds into many markets, with higher freight rates heightening that disadvantage.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

The post Baltic Dry Index at three-month lows appeared first on Manitoba Co-operator.

The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 3,187 points on Nov. 2, marking its lowest level in three months and well off the 13-year high of 5,650 points hit on Oct. 7. The index hit a low of 393 points in the spring of 2020 when the COVID-19 pandemic first started disrupting global movement and had generally trended higher until the latest downturn. Current levels remain historically strong.

Increasing iron ore stockpiles in China have reportedly slowed demand for large capesize vessels, which weighed on the overall index as well. News that coal supplies in China were improving, after the government introduced measures to both increase production and cool usage, added to the recent declines in ocean freight.

The panamax index was down to its lowest level in two months, at 3,644 points. Average daily earnings for the 60,000 to 70,000 tonne vessels that commonly carry grain or coal were pegged at around US$34,400.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels – including capesize, panamax and supramax.

Canada is at a freight disadvantage compared to its competitors into many markets, with higher freight rates heightening that disadvantage. Canadian grain exports through the first three months of the 2021/22 crop year are running well behind the previous year’s pace as reduced supplies and high prices limit movement.

The post Baltic Dry Index drops to three-month lows appeared first on Manitoba Co-operator.

The Baltic Dry Index (BDI), a major indicator of shipping rates, settled Friday at 4,275 points, marking its highest level since November 2009. The index hit a low of 393 points in the spring of 2020 when the COVID-19 pandemic first started disrupting global movement.

The panamax index was up for its seventh-straight session, hitting 3,904 points. Average daily earnings for the 60,000- to 70,000-tonne vessels that commonly carry grain or coal were pegged at US$35,138.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes subsectors for the different classes of ocean vessels, including capesize, panamax and supramax.

Canada is at a freight disadvantage compared to its competitors into many markets, with higher freight rates heightening that disadvantage.

Canadian grain exports through the first six weeks of the 2021-22 crop year are running well behind the previous year’s pace — although tight supplies of most major crops due to the Prairie drought likely have more to do with the current slowdown than the high rates.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The Baltic Dry Index (BDI), a major indicator of shipping rates, hit a high of 3,266 points on Wednesday. That marked its strongest level since June 2010, and compares with the multi-year lows just under 400 points hit at the same point a year ago.

Strong worldwide shipments of coarse grains contributed to the recent strength in the BDI, according to a report from shipping association BIMCO (the Baltic and International Maritime Council).

“The dry bulk market continues its strong performance this year, supported in part by strong demand from grains trade, with the U.S. providing plenty of support,” Peter Sand, chief analyst for BIMCO, said in the report.

While U.S. soybean exports have moved off of their highs to more seasonal levels, he noted increased coarse grain exports were contributing to steady demand for grain-carrying ships.

“In March alone, U.S. coarse grain exports required 123 panamax ships, almost two thirds of which sailed to the Far East, one of the world’s longest trades. At the peak of the U.S. soya bean export seasons in October, 147 ships were needed,” he said.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels – including capesize, panamax and supramax.

Canada is at a freight disadvantage compared to its competitors into some markets, and higher freight rates can heighten that disadvantage.

However, Canadian grain exports continue to move at a solid pace, with total bulk exports of the major grains and oilseeds through week 38 of the 2020-21 crop year of 39.9 million tonnes running 30 per cent ahead of the previous year’s pace, according to Canadian Grain Commission data.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved higher most of the past month, settling above 2,000 points for the first time in five months on Tuesday, at 2,017 points. That’s up about 700 points since the beginning of February and roughly triple the level seen at the same time a year ago.

The BDI is compiled by the London-based Baltic Exchange and provides an assessment of the price of moving major raw materials by sea. The overall BDI includes sub-sectors for the different classes of ocean vessels — including capesize, panamax and supramax.

Improving global economic optimism, as vaccination programs pick up speed around the world, contributed to the recent strength in freight rates, according to analysts.

Canada is at a freight disadvantage compared to its competitors into some markets, and higher freight rates can heighten that disadvantage.

However, Canadian grain exports continue to move at a solid pace, with total bulk exports of the major grains and oilseeds, through Week 31 of the 2020-21 crop year, at 33 million tonnes, running 34 per cent ahead of the previous year’s pace, according to Canadian Grain Commission data.

— Phil Franz-Warkentin reports for MarketsFarm from Winnipeg.

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