Hi, Baltic Dry Index is an index for shipping freight for dry bulk materials such as steel, grains, coal etc. This is not the right index for tracking containerized freight which is used to transport MDF/HDF.
Ocean freight is classified into dry bulk vs containers vs tankers (liquids) as far as I know.
The right index for tracking ocean freight relevant to MDF/HDF is container freight indices such as this one - • Global container shipping rates 2022 | Statista
While container freights are also coming down MoM, they are still 4X the freights that persisted during Q1FY20-Q1FY21, the last annual period with significant import values.
I expect dry bulk freights to capitulate much faster than container freights going forward. This is because China RE Sector is slowing down alarmingly and China RE is the world’s largest consumer of dry bulk commodities.
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