BDI Rises to 939 Points on Stronger Cargo Vessel Demand

The Baltic Dry Index (BDI) has risen to 939 points, as on 3Feb’17, on the back of rising demand for cargo vessels along the key Asian routes.

With China implementing measures for infrastructure development, production of steel has been robust, necessitating more imports of coal and iron ore. Moreover, the over-supply of vessels that had impacted the freight rates has now retreated.

The stronger demand for cargo vessels has lifted the BDI from 871 points, on 1Mar’17, to 939 points, on 3Feb’17.

Market participants foresee the freight rates to remain stable in the week next.