BDI

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BDI

Abbreviation for Beck Depression Inventory.
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The Baltic Dry Index (BDI), which tracks the cost of transporting dry commodities such as coal, iron ore and grain across 20 shipping routes, dropped on Wednesday to 509 points, its lowest level since the creation of the index in 1985.
Sea transporters enjoyed hefty gains after a rise in a commodities shipping rate benchmark, known as the Baltic Dry Index. Mitsui OSK Lines shot up 18 yen, or 4.1 percent, to 457 yen while Nippon Yusen gained 8 yen, or 2.6 percent, to 318 yen.
Due to sluggish demand in recent two years, oversupply of new vessels, BDI (Baltic Dry Index) in the first 10 months this year dropped to 914, a new low in more than a decade.
"Low activity keeps its toll on dry markets," Frode Morkedal, an Oslo-based shipping analyst for shipping-focused investment bank RS Platou Markets, wrote in a note Thursday about the benchmark Baltic Dry Index.
As a sign of the malaise, the Baltic Dry Index, a measure of commodity shipping rates, plumbed a low of 647 on February 3, a level not seen for 25 years.
The Baltic Dry Index (BDI), a key barometer which tracks the cost of renting ships to move goods such as coal, iron ore and grain across the oceans, tumbled last Friday to 647 points - the lowest level since August 1986.
With the Baltic Dry Index revisiting its twoyear lows, Uralkali's decision to move to Cost and Freight (CFR) pricing could not have been better.
The Baltic Dry index is seen to drop to around 2,500 points in the next three months, and to 2,000 in the next 12 months.
Feeding into the recovery idea, shipping and shipbuilding companies Hanjin Shipping and Hyundai Heavy Industries surged 8.8 percent and 4.6 percent respectively after a rise in the Baltic Dry Index, a key freight indicator.
Baltic Dry Index THE Baltic Dry Index tracks worldwide international shipping prices of various dry bulk cargoes, and an increase in the BDI is regarded by many as an important indicator of an improving global economy.
This conclusion is also confirmed by the volatile Baltic Dry Index, which is a freight-rate benchmark for shipping dry commodities like building materials, grains, coal and iron ore.
The Baltic Dry Index, which measure freight rates for dry commodities, fell 96% in the final quarter of 2008.

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