9The
Baltic
Handymax
Index (BHMI),
is
calculated
from the
weighted,
average
rates on
major
timecharter
routes,
with two
trial
voyage
routes, as
assessed
by a panel
of
brokers.
The
Baltic
Panamax
Index
(BPI),
is
calculated
from the
weighted,
average
rates on
major
routes,
both
voyage and
timecharter,
as
assessed
by a panel
of
brokers.
The
Baltic
Capesize
Index (BCI),
is
calculated
from the
weighted,
average
rates on
major
routes,
both
voyage and
timecharter,
as
assessed
by a panel
of
brokers.
The
Baltic Dry
Index (BDI),
is the
average of
the Baltic
Handymax
Index
(BHMI),
the Baltic
Panamax
Index
(BPI) and
the Baltic
Capesize
Index
(BCI). The
BDI
provides a
good
general
indicator
of
movement
in the dry
bulk
market,
and
continues
the
established
time
series of
the Baltic
Freight
Index
(BFI)
which was
introduced
in 1985. As the index is derived from polling the
market and not traded, there is no speculative factor influencing the movement
of the index. This index is a concurrent indicator of the growth or decline in
global cargo trades.

The
Baltic Dry
Index
(BDI) as
at 2013 01 February
