Change to BDI looks to boost derivatives trading
The way the Baltic Dry Index (BDI) is calculated changed from July 1, in a move designed to encourage derivatives trading of the index.
The index will be made up of 25% of the average time-charter rates (dollars per day to hire a vessel) for each of the four vessel types: capesize, panamax, supramax and handysize. The BDI was previously calculated by taking a combination of time-charter rates and voyage rates, which will no longer be used. The new index will have a correlation of 0.99978 to the
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