Baltic Exchange Dry Index

The Baltic Dry Index (BDI) is the successor to the Baltic Freight Index (BFI) and came into operation on 1 November 1999. Since 1 July 2009, the index has been a composite of the Dry Bulk Timecharter Averages.  

The following formula is used to calculate the BDI:

((Capesize5TCavg + PanamaxTCavg+ SupramaxTCavg + HandysizeTCavg)/ 4) * 0.110345333 

TCavg = Time charter average

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