what is the baltic dry index bdi 
the baltic dry index bdi is a shipping and trade index created by the london based baltic exchange it measures changes in the cost of transporting various raw materials such as coal and steel members of the exchange directly contact shipping brokers to assess price levels for given shipping paths a product to transport and time to delivery or speed the baltic dry index is a composite of four sub indices that measure different sizes of dry bulk carriers or merchant ships capesize panamax supramax and handysize 1