Global Shipping Index Surges on China’s Recovery Outlook

What’s new: The Baltic Dry Index, a key leading indicator for global trade known as the BDI, made its largest gain since June 2020, boosted by recovering demand from China.

The overall BDI jumped 21.07% Feb. 23 to 816, compared with 530 Feb. 16, its lowest level since June 2020. The index for Capesize ships, the largest dry cargo vessels which typically transport 150,000-ton cargoes such as iron ore and coal, rose 46.92% to 583.