Baltic dry index hovers at multi-year high

The Baltic Exchange's main sea freight index, a key benchmark for global dry bulk shipping rates, edged up on September 8, adding 9 points, or 0.3%, from the previous session to settle at 3,584 points.

The modest gain followed a recent retreat from the index's multi-year peak of 3,628 points reached on September 4 – its highest level since November 2021. Despite the pullback, the BDI remains firmly elevated, having increased by approximately 90% since the start of the year, supported by higher international