# Baltic Dry Index Breaks 1000 for the First Time in Over a Year - Ship & Bunker

> The Baltic Dry Index rose 71 points to 1,045, its first close above 1,000 since August 2015. Drewry says the dry bulk market has bottomed and a slow recovery is underway, with scrapping and low newbuilding tightening supply.

- Date: 2016-11-11 · published 2016-11-11T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/74045-baltic-dry-index-breaks-1000-for-the-first-time-in-over-a-year-ship-and-bunker
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

A sustained recovery in dry bulk rates raises the cost of shipping grain and oilseeds, and Drewry's supply-tightening view suggests freight support beyond the short term.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- shipandbunker.com: https://shipandbunker.com/news/world/497941-baltic-dry-index-breaks-1000-for-the-first-time-in-over-a-year

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.