pj
how much of an influence has the Baltic Dry index have on rig rates ?
just curious as it seems relative to the other costs in the oil industry.
it seems to copping a hiding at the moment which makes one wonder
how much gear is parked up, and at what cost.
The Baltic Dry Index (replaces the Baltic Freight Index): A composite of the Baltic Capesize, Panamax, Handysize and Supramax indices. The index is designed as the successor to the Baltic Freight Index and was first published on January 4 1985 at 1000 points.Last day of trading yr - Christmas Eve
link
http://www.bloomberg.com/quote/BDIY:IND
Cairn Pre-Close Update 19 January, page-136
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