Latest news with #BalticDryIndex
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Business Standard
5 days ago
- Business
- Business Standard
SCI, GE Shipping in focus as Baltic Dry Index up 47% in 1-mth; time to buy?
The Baltic Dry Index now quotes at a 8-month high. Technical charts hint at a potential 36 per cent upside for select shipping stocks like SCI, Dredging and Seamec. Details here Rex Cano Mumbai Listen to This Article Shares of shipping related companies are likely to be in focus as the Baltic Dry Index - the shipping and trade index - has surged to a 8-month high at 1,968. The index has rallied as much as 47 per cent from levels of 1,338 in the last one month. What is the Baltic Dry Index & its impact? The Baltic Dry Index (BDI) represents the average price for shipping dry bulk materials via sea routes, and is often considered as a leading indicator of economic activity for it reflects the supply and demand for raw materials
Business Standard
13-06-2025
- Business
- Business Standard
GE Shipping, SCI soar up to 12% on heavy volumes in weak market
Shares of shipping companies like Shipping Corporation of India (SCI) and Great Eastern Shipping Company (GE Shipping) have soared up to 12 per cent on the BSE in Friday's intra-day trade amid heavy volumes in an otherwise weak market. The surge in stocks came as the Baltic index extended its rally to hit an over-eight-month high. Among the individual stocks, SCI rallied 12 per cent to ₹230.50 on the BSE in intra-day trade. The average trading volumes on the counter jumped over fivefold. A combined 25.97 million shares, representing 5.6 per cent of the total equity of SCI, changed hands on the NSE and BSE. Baltic index extends rally; hits over eight-month high According to a Reuters report, the Baltic Exchange's dry bulk sea freight index extended gains to scale a more than eight-month peak due to higher rates across both large and small vessel segments. The main index was up 166 points, or 9.6 per cent, at 1,904, its highest since October 7. The escalating tension in the Middle East is sparking fears of global trade disruptions and rising tanker rates. The Baltic Exchange's dry bulk sea freight index measures shipping rates for vessels transporting dry bulk commodities. The Baltic Dry Index (BDI) is a number (in $) issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a time charter basis, the index covers Handysize, Supramax, Panamax and Capesize bulk carriers carrying a range of commodities including coal, iron ore and grain. Dry bulk trade demand is generally driven by the global economic outlook. US, China reach agreement US President Donald Trump on Wednesday claimed that a trade deal with China has been finalised, pending final approval from both him and Chinese President Xi Jinping. In a post on Truth Social, Trump stated, 'Our deal with China has been finalised, pending final approval from President Xi and myself. As part of the agreement, China will supply, upfront, full magnets and any necessary rare earth materials.' CLICK HERE FOR FULL REPORT Crisil Ratings' view on GE Shipping GE Shipping is the largest private sector shipping company in India. The company operates two main businesses, tankers and dry bulk carriers, wherein it owns and operates 38 vessels (26 tankers and 12 dry bulk carriers) with a combined capacity of 3.04 million dead weight tonnage as of February 21, 2025. In February 2025, Crisil Ratings upgraded its rating on the non-convertible debentures (NCDs) of GE Shipping to 'Crisil AAA/Stable' from 'Crisil AA+/Positive'. The rating upgrade reflects Crisil Ratings' expectation that the company shall sustain its strong financial risk profile as supported by its sizeable net-worth, robust liquidity and low leverage amid healthy operating performance, resulting in strong cash accrual. Despite cyclicality in the operating performance of the shipping and offshore oilfields service businesses, the financial risk profile of GE Shipping is likely to remain strong over the medium term. Owing to its prudent risk management policy, the gearing (measured as a ratio of debt to equity) has remained below 1 time over the past 10 years, the rating agency said in its rationale.
Business Standard
13-06-2025
- Business
- Business Standard
Shipping stocks sail higher as Baltic Dry Index hits 8-month high
Shares of shipping companies were in high demand on Friday as freight rates surged sharply, lifting investor sentiment across the sector. The Baltic Dry Index (BDI), a global benchmark that tracks the cost of transporting dry bulk commodities like coal, iron ore, and grains, jumped 9.6% to 1,904, marking its highest level since October 7. The rally in BDI reflects strong activity in global trade routes. On the back of this, Shipping Corporation of India (SCI) (up 5.16%), Velox Shipping and Logistics (up 5%) and Great Eastern Shipping Company (up 2.63%) surged. A rising BDI typically boosts earnings potential for shipping companies as it directly translates into higher freight revenues per voyage.
Reuters
25-04-2025
- Business
- Reuters
Tariff turmoil puts premium on economic oddities
NEW YORK, April 25 (Reuters Breakingviews) - Erratic times call for quirky economic indicators. The White House's helter-skelter trade policy and U.S. government shakeup are making some of the conventional metrics tracked by investors less useful. In past crises, oddities like the Baltic Dry Index and coronavirus infection rates proved to be useful, but each era requires its own dashboard. This one is revisiting underwear and lipstick while adding rush-hour traffic and Canadian tourists. Central bankers and money managers have periodically studied everything from hemlines to Big Macs alongside unemployment and GDP growth to seek an edge in understanding economic trends. This week, the aviation industry attracted attention far beyond the usual plane-spotters. American Airlines (AAL.O), opens new tab and Alaska Air (ALK.N), opens new tab warned of softening travel, helping corroborate daily, opens new tab U.S. Transportation Security Administration updates on airport security figures. Extra insights come from various travel warnings following U.S. visitor detentions and declining numbers of Canadians driving home from their southerly neighbor. Real-time monitoring of metropolitan congestion tells another part of the story. During a recession, fewer people take cars to work and speed up trips for those who do. At peak times in places like Houston, opens new tab and Chicago, however, roads remain more clogged than usual, according to mapping technology developer TomTom. Similarly, a job postings barometer, opens new tab from Indeed indicates a slowdown, but nothing severe. And the Waste Paper Composite Index, opens new tab doesn't show signs of strain on the recycled paper market that often portend an economic slump. Google Trends, which tracks what users are exploring, has potentially more ominous results. Inquiries for 'recession' are rising fast, but even more alarming is the growing hunt for ' supply chain, opens new tab.' It's the sort of term typically reserved for logistics mangers and investing wonks, and the only time there was more web searches on the subject was October 2021. Then, ports were clogged with goods when an ebbing Covid-19 ignited trade and economic activity. Today's trade wars might have the opposite effect. Two popular alternative data points are also back in vogue. Women have spent more on makeup during hard times since the Great Depression, opens new tab, even as they save money elsewhere. Cosmetics magnate Leonard Lauder coined the 'lipstick index' to crystallize the idea that cheap luxuries make people feel better. The pandemic proved an exception because of the protective masks everyone was wearing, but it should be a reliable gauge again. Boxers and briefs can hold economic crystal balls, too, and were a targeted sales measure watched closely by former Federal Reserve Chairman Alan Greenspan. When times get tough, men are more inclined to make do with threadbare skivvies. To better understand unconventional cycles, it pays to look in strange places. For more insights like these, click here, opens new tab to try Breakingviews for free. Editing by Jeffrey Goldfarb and Pranav Kiran Breakingviews Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.
